Software products and technology services company Persistent Systems has posted 29.7 per cent rise in net profit at ₹64.19 crore for the third quarter ended December 31. The company has posted a net profit of ₹49.51 crore during the comparative quarter of the previous fiscal.
During the quarter, the Pune-based company’s revenues rose 30 per cent to ₹432.76 crore from ₹332.99 posted during the same period a year, Persistent Systems said in a statement.
“Some of the growth came in from improved utilisation, some of it from better management, while there was improvement in the sales front too,” Anand Deshpande, Chairman and Managing Director, Persistent Systems said.
The company has also declared an interim dividend of ₹8 per share as against an interim dividend of ₹6 per share during the corresponding period of last fiscal. It had added a net of 145 personnel during the quarter.
Deshpande, who is also the chief executive officer of the company, said Persistent Systems expects its services and intellectual property (IP) sales to improve in fourth quarter.
“We continue to focus on products and IP-led revenue, tracking new industry trends, and encouraging innovative ideas that solve real-world problems,” Deshpande added.