Persistent System 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 for the fourth quarter ended March 31, 2017 on Tuesday.

Must Read

How to choose an effective DDoS mitigation plan

There are several flavours from which to choose when selecting an effective DDoS mitigation strategy. Most enterprises opt for one of the cloud protection flavours (always-on or on-demand)

How tech bolster security of online gaming platforms

The rise of and is evident throughout the world’s financial capitals with the UK, US, and a few other European nations at the forefront

Explained: The evolving nature of cybersecurity threats

Concerns such as hacking and the presence of computer viruses have existed for decades in one form or another. As technology evolved over the years, so did the   threats themselves.

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:


(As per Ind AS)


(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%



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 ; 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).

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.

Subscribe to receive the day's headlines from Tech Observer straight in your inbox

Leave a Reply

*The moderation of comments is automated and not cleared manually by Embedding of any link and use of abusive or unparliamentary language are prohibited.
- Advertisement -

Latest in TECH

Sapience Analytics signs distribution agreement with Redington

Sapience Analytics and Redington said that they have entered into a distribution agreement where latter will resell the Sapience Vue solution through its network of over 30,000 channel partners, system integrators, and value-added resellers countrywide.
- Advertisement -SAP Hana

Related Articles