#GreyhoundInMedia: Persistent Systems (@persistentsys) Q2 net profit up 17.3% to Rs71.3 crore #Press #Media @mint

Revenue in the September quarter rose 7.4% from the year ago period to Rs464 crore

“Despite wage hike and expenses on skill development for employees, the quarter has been very strong with positive margins,” said Sanchit Vir Gogia, chief analyst and chief executive officer at research firm, Greyhound Research. “The Reserve Bank’s decision to allow up to 49% investments in Persistent Systems is an added boost to its quarter results that showcases that all the relevant metrics are in good health in the company. Persistent Systems plans to invest $12 million annually in emerging technologies and IPs to increase its own base of intellectual property,” Gogia added.

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