Persistent Systems an outsourced software product development services player has registered 25.2 per cent rise in its profit after tax (PAT) at Rs 40.584 crore, representing a quarter-on-quarter growth.
The board of directors of Persistent Systems, at its meeting, declared an interim dividend of 3.50 per share for the financial year 2011-12.
The company announced its financial results for the third quarter ended December 31, 2011 with a revenue figure of Rs 2,67.730 crore, representing a quarter-on-quarter growth of 12.4 per cent and a year-on-year growth of 37.3 per cent. Anand Deshpande, chairman and managing director, Persistent Systems said, "As we step in 2012, we continue to see growth in our focus areas like cloud computing, analytics and collaboration and mobility.”
Adding further, Despande mentioned that in spite of the volatility in the market, the company expects good business opportunities in this space. “We are excited to be part of these new advances and look forward to leverage our expertise to continue to build innovative solutions for our customers. Improving internal efficiencies, optimising operations, and delivering time-to-market solutions will continue to be the drivers of our growth," he said. The company recently expanded its presence in Nagpur and inaugurated a new facility with a seating capacity of 1,250 people.