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Finquest Sec. - Persistent Systems - Result Q4FY13 - May-20-2013




Finquest Securities Pvt Ltd


20 May 2013





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Persistent Systems Ltd. (PSL) came up with a decent set of numbers for Q4FY13. Revenue growth was driven by the traditional IT services business while IP revenue was slightly subdued. The sequential revenue growth was led by pricing despite soft volumes aided by IP revenue. INR revenue growth affected by appreciation of INR but in $ terms looks decent Appreciation of INR and higher royalties' impact EBITDA margins Utilization dips on employee additions but fresh hiring brings in optimism: Recent acquisitions to boost revenue in FY14 Management guides for a robust FY14

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