Pune, India and Santa Clara, CA – July 27, 2014:
Persistent Systems (BSE & NSE: PERSISTENT), a global leader in software product and technology services, today announced the Company’s audited financial results for the quarter ended June 30, 2014, as approved by the Board of Directors.
“We continue to grow double digit both in terms of revenue and profitability,” said Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems. He further added, “Our platform based technology strategy is working well and we see rising interest from enterprises to leverage the new technology stack. We launched new releases of our products over the last two quarters which has helped the IP led business to grow over 50% from last year and constitutes 20% of our revenue this quarter.”
“We are delighted to have Roshini Bakshi join our Board as an Independent Director. With her wide experience in marketing and strategy, we look forward to her insights as we position the Company for the next phase of growth.”
Consolidated Financial Highlights for the Quarter ended June 30, 2014:
| Particulars | Q1 FY15 | Q-o-Q growth | Y-o-Y growth |
| Revenue | $ 72.66 Million | 0.0% | 15.3% |
| Rs. 4,349.87 Million | -2.6% | 21.7% | |
| EBITDA | Rs. 948.98 Million | -21.3% | 22.1% |
| PBT | Rs. 954.15 Million | 3.3% | 18.8% |
| PAT | Rs. 688.04 Million | 2.4% | 20.5% |
Key Quarter Highlights:
- Named ‘India’s Coding Power House’ at TechGig Code Gladiators 2014, hosted by the Times Group.
- Acquired assets of Hoopz Planet Info. Pvt. Ltd., a Pune based Web Discovery Solution Provider
- Inaugurated a new building in Goa that doubled our capacity to 600 seats
- Persistent Foundation won Rotary CSR Leadership Excellence Award
Updates from Annual General Meeting held on July 26, 2014
- Members passed all the resolutions pertaining to business listed in the Notice of the said Annual General Meeting with requisite majority.
- Members approved the final dividend of Rs. 4 (Rupees Four only) per share for FY2013-14. The Company had paid an interim dividend of Rs. 8 (Rupees Eight only) per share during FY2013-14. The total dividend for FY2013-14 is Rs. 12 (Rupees Twelve only) per share as against Rs. 9 per share for FY2012-13.
About Persistent Systems:
Persistent Systems (BSE & NSE: PERSISTENT) is a global company specializing in software product and technology services. For over two decades, Persistent has consistently been selected as the trusted innovation partner for the world’s largest technology brands, leading enterprises and pioneering start-ups. Persistent has a global team of more than 7,800 employees worldwide including offices and delivery centers in North America, Europe, and
Asia -Pacific. Persistent develops best-in-class solutions in key next-generation technology areas including Analytics, Big Data, Cloud Computing, Mobility and Social, for the independent software vendors (ISVs), telecommunications and media, life sciences and healthcare, and financial services verticals.
For more information, please visit – www.persistent.com