Persistent Systems net up 64.3% in Q4

New Delhi Persistent Systems said its consolidated net profit jumped 64.3 per cent year-on-year to Rs 137.7 crore during the quarter ended March 2021.

The company had registered a net profit of Rs 83.8 crore during January-March 2020, it said in a BSE filing on Thursday evening. Its revenue grew 20.2 per cent to Rs 1,113.3 crore in the quarter under review from Rs 926.3 crore in the year-ago period. For FY21, net profit rose 32.4 per cent to Rs 450.6 crore, while revenue was higher by 17.4 per cent to Rs 4,187.8 crore from the previous fiscal.

"We are happy to conclude FY21 on a high note, with double digit growth in both our revenue and EPS. Our performance demonstrates the alignment between Persistent's core strengths in digital engineering and our clients' needs as they accelerate to the next wave of transformation," Persistent Systems Executive Director and Chief Executive Officer Sandeep Kalra said. He added that Persistent Foundation continues to contribute towards Covid relief efforts globally and the company will continue to support our employees during these challenging times. The board has recommended a final dividend of Rs 6 per share. Shares of the company were trading at Rs 2,098.30 apiece on Friday, up 5 per cent from the previous close on the BSE.