Persistent Systems quarterly net up 17% at Rs 71 cr

Consolidated total income rises 7 per cent to Rs 464 crore

Software products firm Persistent Systems today reported 17 per cent growth in consolidated net profit at Rs 71.32 crore for the quarter ended September 30.

The Pune-headquartered firm had posted a net profit of Rs 60.79 crore in the year ago period, it said in a statement.

Consolidated total income of the firm rose 7 per cent to Rs 464.17 crore in the July-September quarter of this fiscal from Rs 432.37 crore in the same quarter of 2013-14 fiscal.

Commenting on the performance, Persistent Systems, Chairman and Managing Director, Anand Deshpande, said: "Enterprise digital transformation represents both an urgent imperative and a great opportunity for our customers. We continue to strengthen our partner ecosystem spanning an array of platforms and technologies to drive this digital transformation."

These include many of the established industry leaders as well as new companies developing visionary and disruptive solutions, he added.

"How enterprises transform into software-driven businesses is fundamentally different in objective, approach, and speed from IT modernisation and outsourcing. Our DNA of building software products and our investments in building frameworks for digital transformation positions us strongly for this opportunity," Deshpande said.

During the second quarter, Persistent made a strategic investment in Pune-based Internet of Things (IoT) start-up Altizon Systems and launched a Center of Excellence for Appian Platform in Columbus, Ohio (US).