Persistent Systems Q2 PAT seen up 5% at Rs 43.6 cr

Persistent Systems is set to declare its second quarter results today. Analysts on an average expect the profit after tax to grow by 5% quarter-on-quarter to Rs 43.6 crore during the quarter.

Dollar revenues are seen going up by 3.8% to USD 57 million and rupee revenues up by 3.3% to Rs 313 crore during the same period.

But earnings before interest, tax, depreciation and amortisation (EBITDA) is likely to fall marginally to Rs 79 crore in the September quarter of FY13 from Rs 80.6 crore in the previous quarter. EBITDA margin too is expected to decline by 160 basis points to 25.2% versus 26.8% QoQ.

Analysts feel offshore wage hike and some investment in S&M could result in margin erosion. Offshore wage hike of 10% has been effective from July 1. But the management was confident of recouping margin in H2FY13 as growth from IP sales get stronger.

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