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Persistent Systems Reports 9.7% Growth in USD Revenue for FY18, Recommends 30% Final DividendSANTA CLARA, California and PUNE, India, April 24, 2018 /PRNewswire/ -- News Summary: Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT), today announced the Company's audited financial results for the quarter and year ended March 31, 2018, as approved by the Board of Directors. (Logo: https://mma.prnewswire.com/media/681466/Persistent_Systems_Logo.jpg ) Consolidated Financial Highlights for the Financial Year 2017-18: FY18 FY17 YoY growth Revenue (USD Million) 470.55 429.01 9.7% EBITDA (USD Million) 72.70 67.66 7.5% PBT (USD Million) 66.58 59.72 11.5% PAT (USD Million) 50.11 44.93 11.5% Consolidated Financial Highlights for the Quarter ended March 31,2018: Q4FY18 YoY growth QoQ growth Revenue (USD Million) 116.95 7.3% -4.6% EBITDA (USD Million) 17.26 -3.1% -18.9% PBT (USD Million) 15.28 8.9% -15.9% PAT (USD Million) 11.45 4.9% -19.2% Dividend: The Board of Directors at its meeting concluded on April 24, 2018, recommended 30% final dividend taking the total dividend for FY 2017-18 to 100%. This was against 90% dividend paid in the previous year. The dividend recommended by the Board is subject to approval of the Members during the Annual General Meeting. Management Update: The Board of Directors, at its meeting concluded on April 24, 2018, has appointed Prof. Deepak B Phatak, recipient of Padma Shri award, who recently retired as Professor of Computer Science at IIT Bombay and Mr. Guy Eiferman who is an expert in Life Sciences and Healthcare, having held several important positions at Merck & Co., as Additional Directors (Independent Members) on the Board with immediate effect subject to the approval of the Members in the next General Meeting of the Company. Business Highlights and Awards:
"In the last two years, our focus on digital has helped us build capabilities in key technology areas and experience in helping customers as they transform to being software driven businesses. Looking ahead, we are doubling down on three industry markets - Financial Services, Healthcare & Life Sciences and Industrial IoT in addition to our strong presence in Software and Technology. We are delighted by the grand success of the Software Edition of Smart India Hackathon 2018 and look forward to innovative solutions at the Hardware Edition in June this year." Key Highlights and Wins during the Quarter: Customer Highlights
Momentum around Software Product Engineering
Momentum in Healthcare
Momentum in Financial Services
About Persistent Systems: Persistent Systems (BSE & NSE: PERSISTENT) builds software that drives the business of our customers; serving software product companies and enterprises with software at the core of their digital transformation. Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit www.persistent.com/FLCS Media Contacts: Isha Kulkarni Ken Montgomery SOURCE Persistent Systems |