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Persistent Systems
Persistent Systems reported its 2QFY2012 results, which were in-line with our
as well as street’s estimates on the revenue front; however, the company
outperformed on the operating and profitability fronts. Dollar revenue came in
at US$51.5mn, up 3.1% qoq. In rupee terms, revenue came in at `238.2cr,
up 6.4% qoq. Despite giving wage hikes from July 1, 2011, the company
managed to report almost flat gross margin qoq at 37.2% because of higher
rupee realization and wage hikes not given to the entire employee base. The
company managed to pull its EBITDA margin by 112bp qoq to 19.0% on the
back of lower SG&A expenses. PAT for the quarter stood at `32.4cr, up 17.6%
qoq, aided by tax write-backs. The stock is currently under review and we will
be releasing a detailed result update shortly
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Persistent Systems
Persistent Systems reported its 2QFY2012 results, which were in-line with our
as well as street’s estimates on the revenue front; however, the company
outperformed on the operating and profitability fronts. Dollar revenue came in
at US$51.5mn, up 3.1% qoq. In rupee terms, revenue came in at `238.2cr,
up 6.4% qoq. Despite giving wage hikes from July 1, 2011, the company
managed to report almost flat gross margin qoq at 37.2% because of higher
rupee realization and wage hikes not given to the entire employee base. The
company managed to pull its EBITDA margin by 112bp qoq to 19.0% on the
back of lower SG&A expenses. PAT for the quarter stood at `32.4cr, up 17.6%
qoq, aided by tax write-backs. The stock is currently under review and we will
be releasing a detailed result update shortly
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