Persistent Systems Q4 PAT up 182 p.c. YoY

PUNE, INDIA: Persistent Systems, a player in outsourced software product

development services, has announced that it posted a Profit After Tax (PAT) of Rs. 115.02 crore for the year ended March 31, 2010, indicating an increase of 74 per cent over previous year 2008-09.

For the fourth quarter ended March 31, 2010, the company registered a PAT of Rs. 39.67 crore, representing a YoY increase of 182.1 per cent, and QoQ increase of 28.4 per cent.

Revenues for the year stood at Rs. 601.15 crore, a growth of 1.2 per cent over the previous year 2008-09. During the quarter, the company's revenues stood at Rs. 171.74 crore, indicating a YoY growth of 15.2 per cent, and a QoQ growth of 8.5 per cent, the company said in a press release.

EBITDA was Rs. 146.37 crore for FY 2009-10 as against Rs.. 178.75 crore in the previous year 2008-09, while during the quarter, EBIDTA stood at Rs. 38.30 crore, against Rs. 49.06 crore YoY and Rs. 37.13 crore QoQ.

Other achievements of the company for the year includes its listing on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on April 6, 2010.

The company's active customers were 293 as on March 31, 2010 as compared to 297 on March 31, 2009. Number of employees as on March 31, 2010 were 4,662 as compared to 4,209 at the end of the previous year.

The company Board of Directors has recommended dividend pay-out be maintained in between the range of 10 per cent to 30 per cent of the consolidated PAT.

The Board also declared an interim dividend of Rs.. 1.50 per share and recommended a final dividend of Re. 0.50 per share.

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