Persistent Systems has posted a 64.35 per cent rise in consolidated web revenue of ₹137.76 crore in fourth quarter ended March 31, 2021, in contrast with ₹83.82 crore recorded throughout the identical interval of earlier fiscal.
The mid-tier IT firm’s consolidated income rose 20.69 per cent to ₹1,113.36 crore throughout the quarter underneath overview, as in opposition to ₹926.37 crore recorded within the fourth quarter of final 12 months. The 12-month interval ended March 31, the corporate posted a 32.4 per cent rise in consolidated web revenue of 450.69 crore, whereas its revenues rose 17.4 per cent to ₹4,187.89 crore.
“We have been recording consistent growth from the fourth quarter of the previous year to the first quarter of this year. Because of the accelerated pace of digital adoption in the midst of the pandemic, we saw more and more customers adopting and converting more number of processes into digital,” Sunil Sapre, Executive Director and Chief Financial Officer, Persistent Systems, mentioned.
The firm, which had been signing offers of about $3-5 million in annual revenues throughout the previous three-four quarters, expects this pattern to proceed in FY22.
The firm’s board has beneficial a closing dividend of ₹6 per share. This, with an interim dividend of ₹14 per share introduced in January, takes the whole dividend to ₹20 a share.
Persistent Systems added 1,650 personnel within the third quarter and 1,250 within the fourth quarter, taking its complete worker energy to 13,680 as of March 31. The agency’s attrition additionally recorded a rise throughout the 12 months, as there was an increase in demand for expertise, which is anticipated to pattern “upwards” within the subsequent few quarters.
“We see some pressure on attrition, while appraisals and salary hikes are in progress. As we are growing, we would be adding about 800-1,000 freshers, while that of laterals would depend on the demand flow,” he added.
On the acquisition entrance, Sapre mentioned, there’s nothing on the speedy horizon, although the agency is open if it comes throughout a “good company”.
