Persistent Systems Net Profit Grows 16.6%; Declares Special Dividend on 25th Anniversary

PUNE, India and SANTA CLARA, California, April 21, 2015 /PRNewswire/ --

News Summary: 

Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company's audited financial results for the fourth quarter and year ended March 31, 2015, as approved by the Board of Directors.

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Consolidated Financial Highlights for the Financial Year 2014-15: 

   
                         FY15          FY14        Y-o-Y growth
    Revenue (USD
    Million)                308.54        274.06     12.6%
    Revenue (INR
    Million)             18,912.52     16,691.53     13.3%
    EBITDA (INR Million)  3,903.47      4,302.78     -9.3%
    PBT (INR Million)     3,899.72      3,426.59     13.8%
    PAT (INR Million)     2,906.31      2,492.77     16.6%
    Diluted EPS (INR)        36.33         31.16     16.6%

Consolidated Financial Highlights for the Quarter ended March 31, 2015: 

   
                         Q4 FY15       Q3 FY15       Q-o-Q growth
    Revenue (USD
    Million)                80.03         79.52       0.6%
    Revenue (INR
    Million)             4,974.53      4,946.38       0.6%
    EBITDA (INR Million) 1,004.76        995.34       0.9%
    PBT (INR Million)      958.15        993.65      -3.6%
    PAT (INR Million)      760.50        744.62       2.1%

Dividend:  

The Board of Directors at its meeting concluded on April 21, 2015, recommended final dividend of INR 2.50 per share for FY 2014-15 and Special Silver Jubilee Dividend of INR 2.50 per share, on the expanded capital base post 1:1 Bonus issue in March 2015.

Earlier this year, the Company paid interim dividend of INR 10 per share on pre-bonus share capital.

The dividend recommended by the Board is subject to approval of shareholders during the Annual General Meeting.

Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems: 

"While we had strong performance across most of our business, due to a change in priorities of one of our large customers, revenue growth came in slightly weaker than anticipated this quarter. The overall demand environment continues to be favorable and we are optimistic about our market positioning and the foundation we have laid to usher in greater revenue growth in FY16."

"We see excellent traction in the enterprise segment and continue to intensify our efforts to   strengthen our partner ecosystem covering a spectrum of platforms and technologies to drive digital transformation," he added.

Key Wins: 

Added 51 clients during the quarter - some of them are:

• Chosen by international oil and gas inspection and maintenance services company to develop Internet of things based solution to capture data and make it actionable, moving from manual and paper based to automated and cloud.
• Selected by major East Coast medical system to develop customer relationship management cloud-based solution available across platforms.
• Selected by global transportation manufacture that designs, develops, manufactures, markets, and services business-jet aircraft to develop mobile-based approval and reporting system.
• Selected by Australian bank to develop customer centric self-service multi-channel offerings providing consistent customer experience as part of their Digital Transformation.
• Selected by leading lifestyle health company to architect and deliver a transformative technology platform through an API-centric architecture.
• Chosen by a leading developer of digital video infrastructure solutions to transform its existing distributed team to work together on building a single platform through the implementation of agile processes.

Other Highlights and Awards: 

• Established 'Research and Innovation Board' to identify new scientific projects, explore cutting-edge futuristic technologies and applications in its continuous pursuit to emerge as a global leader in technology.  This six-member board is chaired by India's most renowned scientist, thought-leader and Padma Vibhushan recipient Dr. Raghunath Mashelkar, Ex- Director General, Council of Scientific & Industrial Research (CSIR).
• Persistent Intranet, Pi - our own digitalizing of employee experience - received 'The Dataquest Business Technology' Award' for Analytics Category.
• Won Computer Society of India Awards for Excellence in IT for "Beyond Search: Enabling Digital Transformation".

About Persistent Systems: 

Persistent Systems (BSE & NSE: PERSISTENT) builds software that drives the business of our customers; enterprises and software product companies with software at the core of their digital transformation. 

Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit:

http://content.persistent.com/Pslweb/forward_looking_cautionary_statement.shtml

Media Contacts:
Rashmi Joshi
Persistent Systems
Corporate Communications
+ 91-830-833-9400
[email protected]   

Ken Montgomery
Persistent Systems
Vice President, Global Communications
+1-949-939-5164
[email protected]

SOURCE Persistent Systems