Persistent Systems Q3FY15 Revenue Grows Sequentially 6.6% to INR 4,946 Million

PUNE, India and SANTA CLARA, California, January 24, 2015 /PRNewswire/ --

News Summary: 

Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company's audited financial results for the quarter ended Dec 31, 2014, as approved by the Board of Directors.

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Consolidated Financial Highlights for the Quarter ended December 31, 2014: 

   
      Particulars         Q3 FY15      Q-o-Q growth   Y-o-Y growth
    Revenue          USD 79.52 Million     4.2%           13.7%
                       INR 4,946.38
                          Million          6.6%           14.3%
                        INR 744.62
    Profit after Tax      Million          4.4%           16.0%

Consolidated Financial Highlights for the nine months ended December 31, 2013: 

   
      Particulars           Q3 FY15         Y-o-Y growth
    Revenue           USD 228.50 Million        13.4%
                     INR 13,937.99 Million      14.0%
    Profit after Tax INR 2,145.81 Million       17.9%

Highlights:  

• The Board proposed 1:1 bonus shares
• Declared an interim dividend of INR 10 per share  

Executive Quote: 

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

"2015 is an important year for the Company as we celebrate our 25^th year. We propose to celebrate the year with multiple different activities that are being planned.  

Technology and innovation continue to be at the center of our strategy to focus on the 'How' of digital transformation. During the quarter, we strengthened our leadership team to drive this technology-led strategy along with forming new partnerships and enhancing how we train our employees on the technologies that drive digital transformation."

US-based Leadership Additions, with Technology Vision and a Track Record of Innovation 

• Dr. Siddhartha Chatterjee joined as Chief Technology Officer
• Thomas Klein joined as General Counsel and Senior Vice President of Corporate Development

Other News Highlights for the Quarter: 

• Partnered with Scale Agile Framework (SAFe) program which enables project teams with the how of nimble, flexible and sprint-based technology development for digital transformation
• Launched Persistent Computing Institute (PCI) to bridge the gap between academy and industry
• Persistent Intranet (Pi) won Prestigious 2014 CIO100 Award, InformationWeek EDGE Award, 2014 and IT Excellence Award 'No Limits CIO' from VMWare, 2014
• Awarded TISS LeapVault CLO Award for 'Best Corporate University', the Global Learn Tech Awards 2014 for 'Best technologies learning solution' and for 'Chief Learning Officer of the Year'
• Awarded the Asset Corporate Award for excellence in Management and Corporate Governance
• Awarded the Certificate of Recommendation in ICSI - Excellence in Corporate Governance Award 2014

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
Tel: +91-830-833-9400
Email: [email protected] 

Ken Montgomery  

Persistent Systems
Vice President, Global Communications
Tel: +1-949-939-5164
Email: [email protected]

SOURCE Persistent Systems