Tech firm Persistent Systems has reported a 37.5 per cent rise in consolidated net profit at Rs 120.9 crore for the December 2020 quarter. The company had registered a profit of Rs 87.9 crore in the year-ago period, Persistent Systems said in a late night regulatory filing on Thursday.

Revenue from operations grew 16.5 percent to Rs 1,075.3 crore during the quarter under review, as against Rs 922.7 crore in the year-ago period, it added. In dollar terms, the company’s revenue grew 12.9 percent to USD 146.15 million during the said quarter, from USD 129.43 million in the year-ago period.

”We continue to deliver engineering solution expertise in our key industry segments and service lines, helping our customers imagine their new digital future,” Persistent Systems Chief Executive Officer and Executive Director Sandeep Kalra said. As a result, the company is seeing a growth in its average deal size and once again, this quarter it closed several large deals, he added.

The company’s headcount at the end of December 2020 quarter was at 12,438. The Board of Directors has declared an interim dividend of Rs 14 per share for the financial year 2020-21.