Persistent Systems Q3 profit up 12% at Rs92 crore
New Delhi: IT firm Persistent Systems Ltd on Saturday reported a 11.94% increase in its consolidated net profit to Rs91.67 crore for the third quarter ended December.
It had posted a net profit of Rs81.89 crore for the October-December quarter in the last fiscal, the company said in a BSE filing. Its total income rose 4.35% to Rs811.16 crore during the quarter under review as against Rs777.33 crore in the corresponding quarter a year ago.
In dollar terms, the company’s revenue was up 3.8% at $122.53 million. “We continue to make good progress on our journey of transformation. We observe that businesses are using machine learning and artificial intelligence on the cloud to redefine themselves to become software driven,” Persistent Systems chairman and managing director Anand Deshpande said.
Persistent Systems’ total expenses increased 4.35% to Rs693.65 crore as compared to Rs665.55 crore.
Meanwhile, in a separate filing, Persistent Systems informed that its board on Saturday declared an interim dividend of Rs7 per share on the face value of Rs10 each for FY 2017-18. “The Board of Directors has appointed Sunil Sapre, Chief Financial Officer as an Additional Director (Executive Director and Chief Financial Officer) of the company with immediate effect for a period of three years,” it said.