Persistent Q4 net drops marginally to Rs 72.7 cr

IT firm Persistent Systems today reported a marginal drop in its consolidated net profit at Rs 72.7 crore for the fourth quarter ended March.
The Pune-headquartered company had posted a net profit of Rs 73 crore in the year-ago period, it said in a BSE filing.
The company's consolidated total income grew 7.3 per cent to Rs 727.1 crore during the January-March quarter of 2016-17 against Rs 677.1 crore in the year-ago period.
For the entire 2016-17 fiscal, Persistent's consolidated net profit grew 8.7 per cent to Rs 301.4 crore, while total income rose 24.4 per cent to Rs 2,878.4 crore.

The Board has recommended a final dividend of Rs 3 per share for the financial year 2016-17.
"We have been making significant investments to form partnerships, build solutions and accelerators, as well as frameworks for enterprises to become software-driven," Persistent Systems Chairman and Managing Director Anand Deshpande said.