January 24, 2021 9:07 am
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report 24.5% revenue growth for FY17

Persistent System reported 24.5% revenue growth for FY17 and has recommended final dividend of ₹3 per share. Company announced its audited financial results for the fourth quarter ended March 31, 2017 on Tuesday.

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Pune based reported 24.5% revenue growth for FY17 and has recommended final dividend of ₹3 per share. Company announced its audited for the fourth quarter ended March 31, 2017 on Tuesday.

“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,” said Anand Deshpande, Chairman and Managing Director, Persistent Systems.

Consolidated Financial Highlights for the Financial Year 2016-17:

FY17

(As per Ind AS)

FY16

(As per IGAAP)

Y-o-Y growth
Revenue (USD Million) 429.01 351.65 22.0%
Revenue (₹Million) 28,784.39 23,123.31 24.5%
EBITDA (₹Million) 4,539.35 4,171.07 8.8%
PBT (₹Million) 4,006.73 3,956.27 1.3%
PAT (₹Million) 3,014.65 2,973.61 1.4%

 

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

Q4 FY17 Y-o-Y growth Q-o-Q growth
Revenue (USD Million) 109.03 8.6% -0.9%
Revenue (₹Million) 7,271.08 7.4% -2.5%
EBITDA (₹Million) 1,187.50 10.6% 0.1%
PBT (₹Million) 936.50 -8.9% -16.2%
PAT (₹Million) 727.95 -9.9% -11.1%

 

Dividend

The Board of Directors at its meeting concluded on April 25, 2017, recommended final dividend of ₹3.00 per share for FY 2016-17. Earlier this year, the Company paid interim dividend of ₹6.00 per share. The dividend recommended by the Board is subject to approval of shareholders during the Annual General Meeting.

 Business Highlights

  • 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 2017for 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 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).

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 & life sciences customer.
  • Large multi-year engagement with one of the largest technology companies for a data security product development and rejuvenation.

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