PUNE, INDIA and SANTA CLARA, CA--(Marketwired - Jul 29, 2013) - Persistent Systems (
"Our investments in Platform Solutions across our four key focus areas have positioned us well," said Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems. "As we continue to expand globally, more companies look to Persistent Systems to help them implement these disruptive technologies with the expectation that their investment will deliver faster, better, more collaborative, secure access to the information they need."
Consolidated Financial Highlights for the Quarter ended June 30, 2013:
- Revenue in Rupee terms was Rs. 3,572.88 Million representing Y-o-Y growth of 18.8%, and Q-o-Q growth of 7.0%.
- Revenue in US$ terms was US$ 63.03 Million, representing a Y-o-Y increase of 14.8%, and Q-o-Q growth of 1.5%
- Profit Before Tax (PBT) was Rs. 803.12 Million, representing a Y-o-Y growth of 39.6% and Q-o-Q growth of 11.3%.
- Profit After Tax (PAT) was Rs. 570.95 Million, representing a Y-o-Y growth of 37.3% and Q-o-Q growth of 10.0%.
Key Quarter Highlights:
- Launched Radia Client Automation at HP® Discover 2013.
- Named 2013 Finalist of IDG′s Computerworld Honors Program in the Emerging Technology category for big data innovation.
- Announced ShareInsights, the company's big data analytics platform at the Hadoop Summit North America 2013.
- Announced end-to-end public, private, and hybrid enterprise cloud lifecycle services and solutions on OpenStack.
- Expanded presence in Africa, announces Partnership with SysCare Technology in Morocco.
- Announced a national strategic collaborative initiative to promote 'Inclusive Innovations 2013.'
Updates from Annual General Meeting held on July 29, 2013
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 Rs. 3 (Rupees Three only) per share for FY2012-13. The Company had paid an interim dividend of Rs. 6 (Rupees Six only) per share during FY2012-13. The total dividend for FY2012-13 is Rs. 9 (Rupees Nine only) per share as against Rs. 6 per share for FY2011-12.
Changes to the Board of Directors
Mr. P. B. Kulkarni has retired by rotation at the Annual General Meeting held on July 29, 2013 and has not sought re-appointment. It was resolved at the Annual General meeting not to fill the vacancy for the time being in the Board, caused by the retirement of Mr. P. B. Kulkarni. Further, owing to the increased responsibilities Dr. Dinesh Keskar's current assignment in M/s. Boeing, Dr. Keskar has resigned as an Independent Director of the Board of the Company with effect from the end of Annual General Meeting of the Company held on July 29, 2013. The Board of Directors places on record their appreciation and thanks for immense contribution during their directorship at the Company.
About Persistent Systems:
Persistent Systems (