Evan Vitale Consulting: Polaris Consulting Posts Profit of Rs. 47 Crore in Q2

Friday, October 30, 2015

Polaris Consulting Posts Profit of Rs. 47 Crore in Q2 – NDTV

New Delhi: Polaris Consulting and Services, formerly known as Polaris Financial Technology, on Thursday reported a 3.6 per cent decline in net profit at Rs 47.34 crore for the July-September 2015 quarter.

The company had registered a net profit of Rs 49.15 crore for the corresponding period a year ago.

Income from software development, support and BPO services increased 9 per cent to Rs 517.67 crore in the quarter under review as against Rs 476.89 crore in the year-ago period, Polaris said in a statement.

Last year, IT services firm Polaris Financial Technology (Polaris FT) had carved out its products business into Intellect Design Arena.

Polaris FT later rebranded itself as Polaris Consulting and Services.

Americas contributed 52 per cent to the quarter’s revenues, while Europe and India accounted for 21 per cent and 8 per cent, respectively. The rest of the world accounted for 19 per cent.

Cash and cash equivalents stood at Rs 294 crore, while total headcount (excluding BPO) was 7,648 at the end of September.

Source