Software product and technology services provider Persistent Systems has posted a profit after tax (PAT) of Rs 51.8 crore during the quarter ended March 2013. This represents a growth of 26 per cent over that in Q4 2012 and of 4.8 per cent over Q3 13.

Revenue in the quarter under review grew 23 per cent YoY to stand at Rs 334 crore. EBIDTA was Rs 83 crore representing a YoY growth of 7 per cent, and QoQ growth of 0.8 per cent.

Announcing the audited financial results for the quarter as well as the year today, Persistent’s Board has recommended a final dividend of Rs 3 per share for the last fiscal, in addition to the interim dividend of Rs 6 per share paid earlier.

For the 2013 fiscal, the company has posted a net profit of Rs 188 crore against Rs 142 crore during FY 12. This translates into a growth of 32 per cent year on year.

Revenue was Rs 1,295 crore versus Rs 1,000 crore during FY 12, representing a growth of 29.5 per cent. Persistent’s IP-led business grew 124 per cent to constitute 17 per cent of the revenue for the year ended March 31, 2013.

“Our growth is a result of continued execution of key strategic initiatives in Platform Solutions and IP led business.  Specifically, we have doubled our IP revenue during the year and have seen robust growth in Platform Solutions,” Anand Deshpande, Chairman and Managing Director, Persistent Systems, said.

He added that the company had grown key partnerships as well as added new alliances with HP and Dassault Systems.

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