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Chennai, July 23

Polaris Software Lab Ltd has reported about 11 per cent growth in consolidated revenues at Rs 257.45 crore for the quarter ended June 2007 compared with the same quarter last year. Its operating profit stood at Rs 30.51 crore as against Rs 35.56 crore reported in the previous quarter. Profit after tax stood at Rs 14.42 crore (Rs 21.4 crore). According to a press release, the rupee appreciation against the dollar resulted in a shortfall of Rs 20.95 crore in revenues and Rs 10.62 crore in operating margins for the company in the April - June quarter. Polaris registered about five per cent fall in revenues this quarter over the previous quarter's (ended March 2007) Rs 270.77 crore. - Our Bureau

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