SOURCE: Persistent Systems

Persistent Systems

July 19, 2012 10:20 ET

Persistent Systems Q1 FY13 ` Revenue Grows 34% Y-o-Y, 11% Q-o-Q

PUNE, INDIA--(Marketwire - Jul 19, 2012) - Persistent Systems (BOMBAY: PERSISTENT) (NSE: PERSISTENT), the leader in outsourced software product development (OPD) services, today announced the Company's audited financial results for the first quarter ended June 30, 2012, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended June 30, 2012:

  • Revenue in Rupee terms was ` 3,007.04 Million representing Y-o-Y growth of 34.4%, and Q-o-Q growth of 11.1%.
  • Revenue in US$ terms was US$ 54.91 Million, representing a Y-o-Y increase of 9.8%, and Q-o-Q growth of 1.3%.
  • EBIDTA was ` 806.72 Million, representing a Y-o-Y growth of 101%, and Q-o-Q growth of 4.3%.
  • Profit Before Tax (PBT) was ` 575.46 Million, representing a Y-o-Y growth of 43.7% and Q-o-Q growth of 4.2%.
  • Profit After Tax (PAT) was ` 415.78 Million, representing a Y-o-Y growth of 50.8%.
  • IP led Revenue for the quarter ended June 30, 2012 was US$ 7.65 Million as against US$ 3.06 Million for the quarter ended June 30, 2011, representing a Y-o-Y growth of 150%.

Executive Commentary:

"We continue to see traction in the market. We have been focussed on analytics, collaboration, cloud and mobility. We find significant activities around these initiatives," said Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems.

"We have made strategic investment in our IP led business which has started to yield positive results," he said. "Our partnerships with key players have helped enhance our offerings. We are on our planned growth trajectory and are upbeat on the market opportunities."

Key Quarter Highlights:

Updates from Annual General Meeting held on July 19, 2012

  • Members passed all the resolutions pertaining to business listed in the Notice of the said Annual General Meeting, unanimously. 
  • Member approved the final dividend of ` 2.50 per share for FY2011-12. The Company had paid an interim dividend of ` 3.50 per share during FY2011-12. The total dividend for FY2011-12 is ` 6.00 per share as against ` 5.50 per share (including one-time special dividend of ` 2.00 per share) for FY2010-11.

About Persistent Systems:
Established in 1990, Persistent Systems (BOMBAY: PERSISTENT) (NSE: PERSISTENT) is a global company specializing in software product development services. For more than two decades, Persistent has been an innovation partner for the world's largest technology brands, leading enterprises and pioneering start-ups. With a global team of 6,500+ employees, Persistent has around 300 customers spread across North America, Europe, and Asia. Today, Persistent focuses on developing best-in-class solutions in four key next-generation technology areas: Cloud Computing, Mobility, Analytics and Collaboration, for telecommunications, life sciences, consumer packaged goods, banking & financial services and healthcare verticals. For more information, please visit: http://www.persistentsys.com.

Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit: www.persistentsys.com/Portals/0/forward_looking_cautionary_statement.shtml  

Contact Information

  • Media Contacts:
    Rashmi Joshi
    Persistent Systems Ltd.
    Tel: +91 83083 39400
    Email: Email Contact

    Atul Shah
    20: 20 MSL
    Tel: +91 99602 55829
    Email: Email Contact

    Ilona Mohacsi
    PenVine
    Tel: +1 631 764 3729
    Email: Email Contact