IP-led biz makes 20 pc of revenues at Persistent Systems

MUMBAI, INDIA: Persistent Systems announced the Company's audited financial results for the quarter ended June 30, 2014, as approved by the Board of Directors.

"We continue to grow double digit both in terms of revenue and profitability," said Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems. He further added,

"Our platform based technology strategy is working well and we see rising interest from enterprises to leverage the new technology stack. We launched new releases of our products over the last two quarters which has helped the IP led business to grow over 50 per cent from last year and constitutes 20 per cent of our revenue this quarter."

"We are delighted to have Roshini Bakshi join our Board as an Independent Director. With her wide experience in marketing and strategy, we look forward to her insights as we position the Company for the next phase of growth."