Click here to close now.




















Welcome!

Apache Authors: Liz McMillan, Mohamed El-Refaey, Ajay Budhraja, Don MacVittie, AppDynamics Blog

News Feed Item

Persistent Systems Q3 FY14 Revenue Grows 15.1% in USD and 30% in INR and PAT Grows 29.7% Y-o-Y, Declares Interim Dividend of Rs. 8 per Share

PUNE, INDIA and SANTA CLARA, CA -- (Marketwired) -- 01/27/14 -- Persistent Systems (BOMBAY: PERSISTENT) (NSE: PERSISTENT), the global leader in software product and technology services, today announced the Company's audited financial results for the third quarter ended December 31, 2013, as approved by the Board of Directors.

"We have delivered another strong quarter with 3.8% QoQ growth in services and improved operational efficiencies. Our continued investment in technology has helped us establish leadership position in the Social, Mobile, Analytics, Cloud space," said Dr. Anand Deshpande, Chairman, Managing Director and CEO, Persistent Systems. "We continue to focus on products and IP-led revenue, tracking new industry trends, and encouraging innovative ideas that solve real-world problems."

Consolidated Financial Highlights for the quarter ended December 31, 2013:

  • Revenue was USD 69.94 Million, representing a Y-o-Y growth of 15.1% and Q-o-Q growth of 2.2%.
  • Revenue was INR 4,327.57 Million, representing a Y-o-Y growth of 30.0% and Q-o-Q growth of 0.1%.
  • EBIDTA was INR 1,197.25 Million, representing a Y-o-Y growth of 45.3% and Q-o-Q growth of 6.7%.
  • Profit before Tax (PBT) was INR 865.27 Million, representing a Y-o-Y growth of 21.9% and Q-o-Q growth of 3.6%.
  • Profit after Tax (PAT) was INR 641.98 Million, representing a Y-o-Y growth of 29.7% and Q-o-Q growth of 5.6%.

Consolidated Financial Highlights for the nine months ended December 31, 2013:

  • Revenue was USD 201.42 Million as against USD 175.71 Million for the nine months ended December 31, 2012, representing a growth of 14.6%.
  • Revenue was INR 12,224.16 Million as against INR 9,605.53 Million for the nine months ended December 31, 2012, representing a growth of 27.3%.
  • EBIDTA was INR 3,096.25 Million as against INR 2,521.00 Million for the nine months ended December 31, 2012, representing a growth of 22.8%.
  • Profit before Tax (PBT) was INR 2,503.32 Million as against INR 1,908.30 Million for the nine months ended December 31, 2012, representing a growth of 31.2%.
  • Profit after Tax (PAT) was INR 1,820.78 Million as against INR 1,357.33 Million for the nine months ended December 31, 2012, representing a growth of 34.1%.

Interim Dividend:

Declared an interim dividend of INR 8 Per share (Payout Ratio 20.6%) as against an interim dividend of INR 6 per share during the corresponding period of the last fiscal.

Business Highlights:

  • Appointed Ranga Puranik as the President of Persistent Systems, Inc., and Head of the Company's global sales and marketing.
  • Successfully co-organized India's largest innovation expo in Pune, 'Inclusive Innovations Expo-2013'
  • Persistent Venture Fund invested in two US companies: Ustyme, a free, video-call app for iPad that creates shared experiences through quality content, like books and games, and DxNow, a life sciences company that leverages advanced microfluidic and imaging technologies for point-of-care diagnostic solutions. The Persistent Venture Fund is an early-stage investment fund focused on supporting innovation in Social, Mobile, Analytics and Cloud computing technologies.
  • Ittavi, a family financial management company selected Persistent Systems to develop SupportPay, a revolutionary new cloud-based child support payment platform built on the Salesforce platform.
  • Participated in Dreamforce 2013 held at San Francisco, CA, presented solutions built using Salesforce Platform for the healthcare, finance and retail industries.
  • Showcased innovative solutions built on the Big Data Hadoop platform at Strata + Hadoop World 2013, held in New York.
  • Presented Big Data solutions built on Persistent's ShareInsights platform at IBM Information on Demand 2013 in Las Vegas, NV.
  • Participated in Dassault Systems 3DExperience Customer Forum in Las Vegas, NV, promoting the Company's PLM and engineering service offerings.
  • Showcased cutting edge solutions leveraging next-generation technologies including Social, Mobile, Analytics, Big Data at Interop Mumbai 2013.
  • Participated in 3DExperience Customer Forum 2013, held in Mumbai and NASSCOM Product Conclave 2013 held in Bangalore, India.

Awards and Recognition:

About Persistent Systems:
Persistent Systems (BOMBAY: PERSISTENT) (NSE: PERSISTENT) is a global company specializing in software product and technology services. For over two decades, Persistent has consistently been selected as the trusted innovation partner for the world's largest technology brands, leading enterprises and pioneering start-ups. Persistent has a global team of more than 7,500 employees worldwide including offices and delivery centers in North America, Europe, and Asia-Pacific. Persistent develops best-in-class solutions in key next-generation technology areas including Analytics, Big Data, Cloud Computing, Mobile and Social, for the telecommunications, life sciences, healthcare and banking & financial services verticals. For more information, please visit: http://www.persistent.com.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Media Contacts:
Rashmi Joshi
Persistent Systems Ltd.
Tel: 91-8308339400
Email: Email Contact

Ilona Mohacsi
PenVine for Persistent Systems Ltd.
Tel: +1 631 764 3729
Email: Email Contact

Pooja Shah
Text100 Global Communications for Persistent Systems Ltd.
Tel: +91 98338 38808
Email: Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.