Business Daily from THE HINDU group of publications
Wednesday, Oct 18, 2006
ePaper
Business Daily from THE HINDU group of publications Wednesday, Oct 18, 2006 ePaper |
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Info-Tech
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Financial Performance Corporate Results - Software Polaris net up at Rs 27 cr Our Bureau
Chennai , Oct. 17 Polaris Software Lab Ltd has reported a net profit of Rs 27.10 crore on revenue of Rs 255.56 crore for the quarter ended September 2006, compared to a net profit of Rs 13.25 crore on revenue of Rs 213.55 crore for the same period last year. A company press release said Polaris bagged 14 new customers this quarter including three large global banks. Revenues from Citigroup contributed to about 48 per cent of total revenues, a decline of about 10 percentage points from last year. Revenues from Europe have grown by 11.88 per cent over the same quarter last year while those from Asia-Pacific and the Americas are up by 11.51 per cent and 7.75 per cent respectively. Mr Arup Gupta, Chief Operating Officer, Polaris Software Lab, said the average onsite billing rate had gone up by about 3-5 per cent in various geographies this quarter.
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