Persistent Systems Q2 net profit up 45% YoY to Rs 471 crore

Mid-tier IT services company Persistent Systems on Tuesday reported a 45% year-on-year increase in its September-quarter net profit, surpassing analyst estimates. At Rs 471.4 crore, net profit was 10.9% higher sequentially, largely helped by a cost reduction in the software licence of one customer and foreign currency gains, chief executive officer Sandeep Kalra said.