Persistent net for FY08 up 50%

Revenue of the company for FY08 was Rs 424.85 crore as compared to Rs 315.6 crore in FY07--registering a growth of 34.6 per cent. 

Anand Deshpande, chairman and managing director said, "FY08 was a very significant year for Persistent as we crossed the $100 million landmark. This was achieved by improving sales and operational efficiencies despite the challenges posed by the appreciating rupee. We have continued our focus on changing the way software products are designed, developed and delivered to increase revenue, margins and brand value for our customers." 

In March this year the company deferred its initial public offering (IPO) due to the prevailing poor market sentiments and adverse developments in the financial markets in India and abroad.