Conference Call between Persistent Systems Management and Analysts on Q4FY20 performance and full year overview. Listen in to the full transcript. 

Key Highlights

Dr Anand Deshpande, Chairman and MD

Christopher O'Connor, CEO

Comments from Christopher O'Connor

We had a productive year, we crossed the $500 million mark for the first time. In INR that's a 5.9% growth rate for the year. We are pleased with that performance.

Q4FY20 revenue was at $127.05 million, translating into a 1.8% decline QoQ and 7.1% growth YoY. EBITDA stands at 13.8%, PAT at 9%. We remain focused and have work to do in that area.

Full year: $501 million. Growth 4.3% in dollars, and 5.9% in INR. EBITDA at 13.8%, PAT at 9.5%. 

We had some marquee wins, as well as growth in large accounts. Added several hundred new companies to Persistent as customers and clients. We have built a COVID19 care response solutions for Salesforce. We continue to scale our COVID19 solutions as they became needed. We did see a drop in our royalty revenue, and that had a direct impact on our bottomline. We are done with the rebranding exercise, which had some real expense and that's behind us. 

We start the year in a better position compared to the previous year in terms of our expenditure. The units themselves - technology services grew strongly. We grew at 14.7% YoY. In the alliance business we saw ups and downs. YoY we saw change in our royalty structure that has impacted us. Full year revenue is 4.7% down from the last year. 

Covid related - we brought 11,000 people home in a week. We saw this coming and started WFH before India started its lockdown. Nearly across the board our clients were supportive. We have set up processes for regular communications, and manage productivity while also ensuring regular checkins with employees to see how they are doing. It's also given us the opportunity to talk with our analysts, customers, peers in the industry. It's been a surprisingly impressive door-opening exercise, in this pandemic. We anticipate some degree of a U shaped recovery when it comes to COVID19.