IT company Persistent Systems today reported 12 per cent increase in consolidated net profit to Rs 40.58 crore for the quarter ended December 31,2011. The comany posted net profit of Rs 36.24 crore for the same period a year ago.
The revenue of the company increased by 37.3 per cent to Rs 267.73 crore in the reported quarter compared to Rs 194.93 crore it posted for the same period last year.
“As we step in 2012,we continue to see growth in our focus areas viz cloud computing,analytics,collaboration and mobility. In spite of the volatility in the market,we see a lot of business opportunities in this space,” Chairman and Managing Director of Persistent Systems Anand Deshpande said in a statement.
He added that improving internal efficiencies,optimising operations,and delivering time-to-market solutions will continue to be the drivers of company’s growth. Shares of the company were trading at Rs 320.50,up by 0.25 per cent compared to its previous close at BSE.