Sector: IT /Mid-Cap | Earnings Update 1QFY19 Background: Persistent Systems is one of the leading outsourced product development (OPD) companies in India. 1QFY19: Revenue from business offering mix: Services (72.6%) & IP led business (27.4%). The company has industry expertise in ISV (38.8%), Enterprise (33.8%) and IP Led (27.4%). Company has strong workforce of 8,902 employees. The company's business is spread across North America (79.7%), Europe (12%), India (6.1%) and RoW (2.2%). Company earns revenue from global delivery centers (31.1%), India (41.5%) and IP Led (27.4%). Total active clients stood at 619 including services and IP led business. Company's top client accounts 23.8% in revenues, top 5 (43.8%) and top 10 (53.7%). Segment revenue mix: Services (41.5%), Digital (21.4%), Alliance (32.1%) and Accelerite (5.0%)....