Persistent Systems Reports 5.7% Growth in Revenue and 13.0% Growth in PAT for Q1 FY19

PUNE, India and SANTA CLARA, California, July 28, 2018 /PRNewswire/ --

News Summary: 

Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT), today announced the Company's audited financial results for the first quarter ended June 30, 2018, as approved by the Board of Directors.

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Consolidated Financial Highlights for the Quarter ended June 30,2018: 

The 28^th Annual General Meeting of the Company was held on Friday, July 27, 2018.

All the resolutions including final dividend payment of USD 0.04 per share, were passed with requisite majority.

Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems: 

"Technology shifts today are forcing businesses to transform. Aligning our investments with technology shifts and trends, our focus on new technologies is driving traction with new projects won during the quarter. At the same time, we continue to strengthen our offerings based on how these new technologies are transforming specific industry markets - in Financial Services, Healthcare, and in Industrial IoT.

Another highlight during the quarter was the pilot launch of the Hardware Edition of the Smart India Hackathon 2018. We hope that this platform will motivate students to become entrepreneurs of the future."

Business Highlights and Awards: 

• Persistent Systems appraised at CMMI® Maturity Level 5
• Persistent Systems invests in and partners with Cazena, a Fully-Managed Big Data as a Service with built-in DevOps for analytics
• Co-organized the Hardware Edition of Smart India Hackathon 2018.The 5-day hackathon was inaugurated on June 18, 2018, by Shri. Prakash Javadekar, Hon'ble Minister of Human Resource Development, Government of India and Chief Patron - Smart India Hackathon 2018
• Anand Deshpande voted among best CEOs of 2018 by Institutional Investor

Customer and Partner Highlights (http://www.persistent.com/customers-speak)

• California-based Three Phase Electric works with Persistent for IoT adoption to build smart and sustainable community ecosystems
• Low-code platform innovator OutSystems works with Persistent to help customers become software-driven
• RPA leader Blue Prism Blue Prism works with Persistent to accelerate software-driven innovation
• Hybrid cloud data services giant NetApp on the value of Hackathons for enabling software-driven transformation
• Scaled Agile partners with Persistent to help its customers become software-driven at speed 
• VC firm K2 Venture Capital leverages the power of Agile and works with Persistent to turn an idea into a product and bring it to market at speed

KeyWins during the Quarter: 

• Continuous Engineering and Collaborative Lifecycle Management licensing, services and support engagement to drive vital business transformation programs for a leading European defence equipment manufacturer
• Build a data platform for a large US based social research organization that will bring efficiency in data democratization
• Help a Silicon-Valley based Unicorn with a major platform engineering initiative
• Improve the customer experience of a security product for a large US based technology company
• Engineering support of 2GH/4GH products for a large webhosting company

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 http://www.persistent.com/FLCS

Media Contacts:
Saviera Barretto
Text100
+91-84249-17719
saviera.barretto@text100.co.in

Isha Kulkarni
Persistent Systems
+91-86696-70068
isha_kulkarni@persistent.com

Ken Montgomery
Persistent Systems (US)
+1-949-939-5164
ken_montgomery@persistent.com

SOURCE Persistent Systems