Mid-tier IT company Persistent’s Q4 net profit balloons 25%

Mid-tier IT services company Persistent Systems continued to outperform the industry with 20th consecutive sequential quarter revenue growth backed by an increase in large deals and clients along with. Net profit jumped 28% to Rs 395.7 crore on a revenue increase of 25.2% on a YoY basis to Rs 3,242 crore. Full year revenue grew 21.6% to Rs 11,938.7 crore while net profit rose 28% to Rs 1400 crore. In dollar terms revenue was up 18.8% to $1.41 billion.