NEW DELHI: IT firm Persistent Systems today said its net profit increased by 9 per cent to Rs 73.28 crore for the quarter ended June 30, 2016.This is against a net profit of Rs 67.21 crore for the same quarter last year.Its revenues grew 40.2 per cent to Rs 701.77 crore in the quarter under review from Rs 500.41 crore in the April-June 2015 period.In dollar terms, the company's revenue was up 33.3 per cent to USD 104.76 million. Its attrition rate stood at 16.7 per cent. "We don't see any impact of Brexit as most of our revenues come from the US market," he added.Persistent had 9,389 employees at the end of the first quarter. "Most of the growth was driven by the IBM alliance. There was also an impact on account of visa expenses and costs related to the IBM partnership, he said.North Americas accounted for 87 per cent of the company's revenues, while Europe, India and rest of world accounted for 5.2 per cent, 5.4 per cent and 2.4 per cent, respectively.

Source: Economic Times July 23, 2016 14:37 UTC