Date:03/08/2007 URL: http://www.thehindubusinessline.com/2007/08/03/stories/2007080351510400.htm

Back Persistent net higher at Rs 55 cr

Our Bureau

Pune, Aug. 2 Persistent Systems Pvt Ltd, player in outsourced product development, has announced a revenue growth of 43 per cent for the financial year ended March 31, 2007. Revenues during the year stood at Rs 314 crore ($70 million) as against Rs 219 crore ($49 million) in the corresponding period in FY06.

Dr Anand Deshpande, Chairman and Managing Director, and Dr Srikanth Sundararajan, Chief Operating Officer, told Business Line that the company also registered an increase of 42 per cent in net profit to Rs 55 crore in FY07 from Rs 39 crore in FY06.

The compounded annual growth rate was 55.8 per cent over the last three years.