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Persistent Surpasses 100 Million Mark, Strong Growth Going into FY17

Crosses $100 M revenue in Q4FY16; INR revenue grew 14.4% QoQ whereas annual revenue grew 22.3% catalysing strong growth in H2FY16 with momentum going Into FY17

Persistent Systems has announced a strong return with its quarterly sales of INR 6,771.10M and profit after tax of INR 808.07M while its annual sales was INR 23,123.31M and a profit after tax of INR 2,973.61M for the financial year ended March 31, 2016.

Consolidated Financial Highlights for the Financial Year 2015-16:

FY16

FY15

Y-o-Y growth

Revenue (USD Million)

351.65

308.54

14.0%

Revenue (INR Million)

23,123.31

18,912.52

22.3%

EBITDA (INR Million)

4,171.07

3,903.47

6.9%

PAT (INR Million)

2,973.61

2,906.31

2.3%

Consolidated Financial Highlights for the Quarter ended March 31, 2016:

Q4 FY16

Q3 FY16

Q-o-Q growth

Revenue (USD Million)

100.43

89.65

12.0%

Revenue (INR Million)

6,771.10

5,920.74

14.4%

EBITDA (INR Million)

1,074.02

1,110.45

-3.3%

PAT (INR Million)

808.07

774.89

4.3%

According to the release, on March 09, 2016, the Board of Directors approved payment of the 2nd Interim Dividend of INR 3 per Equity Share for the Financial Year 2015-16 by passing a resolution by way of circulation. The Board had earlier approved a 1st interim dividend of INR 5 per Equity Share. The total dividend paid for FY15-16 is INR 8 per share. In view of the two interim dividends, the Board recommended that no final dividend be paid.

Reasons for Persistent’s strong growth are alignment of operations driving four key growth strategies, Alliance with IBM to launch specialized Engineering Services for IBM Watson IoT platform and Acquisitions and alliances in the year strengthen focus on Enterprise Digital Transformation including IoT add significantly to global footprint, and enhance Accelerite product portfolio, said the release.

As per Dr. Anand Deshpande, Chairman and MD, Persistent Systems, “Our 25th year has been monumental with significant strategic acquisitions, partnerships and the new alignment of the Company into four key growth business lines – Digital, IBM Alliance, Services and Accelerite. This transformation positions us for our long-term success.”

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