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India : Persistent Systems Revenue Crosses Rs.1,000 Crore; Annual Growth of 28.9% in Revenues and 46.8% in EBIDTA [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) Persistent Systems, the leader in outsourced software product development (OPD) services, today announced the Company's audited financial results for the quarter and year ended March 31, 2012, as approved by the Board of Directors. Consolidated Financial Highlights for the Quarter ended March 31, 2012: Revenue was US$ 54.20 Million, representing a Y-o-Y growth of 15.3%, and Q-o-Q growth of 4.9%. Revenue was Rs2,706.24 Million, representing Y-o-Y growth of 27.2%, and Q-o-Q growth of 1.1%. EBIDTA was Rs773.32 Million, representing a Y-o-Y growth of 103.04%, and Q-o-Q growth of 11.09%. Profit Before Tax (PBT) was Rs552.50 Million, representing a Y-o-Y growth of 58.6%. Profit After Tax (PAT) was Rs412.17 Million, as against Rs331.35 Million Y-o-Y and Rs405.84 Million Q-o-Q Consolidated Financial Highlights for the FY 2011-12: Revenue crosses Rs1,000 Crore. Revenue was Rs10,003.11 Million as against Rs7,758.41 Million for previous year 2010-11, representing a growth of 28.9%. Revenue was US$ 207.39 Million as against US$ 170.23 Million for previous year 2010-11, representing a growth of 21.8%. EBIDTA was Rs2,324.03 Million as against Rs1,583.05 Million for previous year 2010-11 representing a growth of 46.8%. Profit Before Tax (PBT) was Rs1,968.68 Million, as against Rs1,503.52 Million for previous year 2010-11 representing an increase of 30.9%. Profit After Tax (PAT) was Rs1,417.80 Million, as against Rs1,397.36 Million for previous year 2010-11. Increased PAT is significant on the backdrop of rise in the effective tax rate from 8% to 28%. Dividend: The Board of Directors at its meeting concluded on April 22, 2012, recommended a final dividend of Rs2.50 per share for FY 2011-12. The payment of final dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting. The Company had paid an interim dividend of Rs3.50 per share during FY 2011-12. The total dividend for the year would be Rs6.00 per share upon approval of the shareholders for the payment of final dividend. Executive Commentary: Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems said, "We are delighted with our results for FY12, as we crossed Rs1, 000 Crores in spite of the challenging global environment. During the year, we have seen customer validation of our strategy as we continue to focus on fundamentals and make investments in key technology areas such as cloud, collaboration, analytics and mobility. We strengthened our domain focus in telecommunications with the acquisition of the location business from Openwave Technologies. In the life sciences space, we bolstered our domain expertise with the acquisition of Agilent s France based team that has expertise in analytical instruments. Further, we also made investments in personalized medicine with Life Technologies." (c) 2012 Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |