Persistent Systems Reports 22% USD Revenue Growth for FY17, Recommends 30% Final Dividend

Persistent Systems (BSE & NSE: PERSISTENT), today announced the Company's audited financial results for the fourth quarter ended March 31, 2017, as approved by the Board of Directors.

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Consolidated Financial Highlights for the Financial Year 2016-17:  

   
    (USD million)            FY17              FY16         Y-o-Y growth
                        (As per Ind AS)   (As per IGAAP)
    Revenue                 429.01            351.65          22.00%
    EBITDA                   67.66            63.43            6.67%
    PBT                      59.72            60.16           -0.73%
    PAT                      44.93            45.22           -0.63%

Consolidated Financial Highlights for the Quarter ended March 31, 2017: 

   
    (USD million)         Q4 FY17       Y-o-Y growth    Q-o-Q growth
    Revenue                109.03          8.56%          -0.91%
    EBITDA                 17.81          11.78%           1.69%
    PBT                    14.04          -7.89%         -14.87%
    PAT                    10.92          -8.93%          -9.68%

Dividend:  

The Board of Directors at its meeting concluded on April 25, 2017, recommended 30% final dividend taking the total dividend for FY 2016-17 to 90%. This was against 80% dividend paid in the previous year. 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: 

"Digital and IoT, enabled by enterprise data integration, together define the building blocks for a software-driven business. We see this as an important nexus of technologies for the future. We have been making significant investments to form partnerships, build solutions and accelerators, as well as frameworks for enterprises to become software-driven. Recent partnerships with USAA and Partners HealthCare are examples of our strategy in action."

Business Highlights and Recognitions: 

• Teamed with Partners HealthCare on new industrywide digital platform with a goal of bringing digital transformation to clinical care
• Granted Development Rights by USAA, a FORTUNE 500® financial services provider, to patented innovations related to security in financial services
• Inaugurated new delivery centers in Raleigh - USA, Guadalajara - Mexico and Rehovot - Israel
• Featured in HfS Blueprint Report: Salesforce Services 2017 for our fast growth in Salesforce practice with a focus on healthcare
• New partnership with low-code software development platform, OutSystems strengthens partner ecosystem for digital, data, and IoT; in addition to recently announced partnerships with Amazon Web Services and with MuleSoft
• Co-organised the Smart India Hackathon 2017, in conjunction with All India Council for Technical Education (AICTE) under the aegis of Ministry of Human Resource Development (MHRD) led by Hon'ble Minister, Shri Prakash Javadekar. Hon'ble Prime Minister, Shri Narendra Modi interacted with the participants of the hackathon

Key Wins:  

• Selected by a US-based global automotive supplier to enable its global deployment and configuration of IBM Watson IoT tools for the automotive industry
• Chosen for digital transformation of franchisee management by a major US fast-food chain on the basis of solutions IP and expertise on the Appian platform
• Selected as a strategic partner for a digital transformation program by a large US-based biotech and life sciences customer
• Large multi-year engagement with one of the largest technology companies for a data security product development and rejuvenation

About Persistent Systems: 

Persistent Systems (BSE & NSE: PERSISTENT) builds software that drives the business of our customers; serving software product companies and enterprises 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:
Akshata Datar
Text100
+91-9867507599
[email protected]

Isha Kulkarni
Persistent Systems
+91-735-052-1177
[email protected]

Ken Montgomery
Persistent Systems (US)
+1-949-939-5164
[email protected]

SOURCE Persistent Systems