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Chennai, June 28

A good financial performance by Polaris Software Labs has led to higher salaries and perks for its Chairman and Chief Executive Officer, Mr Arun Jain, for 2008-09. In 2008-09, Mr Jain took home Rs 1.18 crore as salary, perquisites and allowances, including Rs 53.03 lakh as bonus, which is calculated on performance criteria. This was possible with the company reporting a consolidated net profit of Rs 130 crore on revenues of Rs 1,377 crore during the year, according to the2 008-09 annual report.In comparison, in 2007-08, Mr Jain’s salary declined to Rs 85.32 lakh, including a bonus of Rs 20 lakh. This was due to a decline in the net profit to Rs 73 crore (Rs 101 crore) on revenues of Rs 1,099 crore (Rs 1,032 crore). Mr Arup Gupta, Chief Operating Officer, Polaris, took home Rs 1.08 crore in 2008-09. This includes Rs 30.78 lakh as performance-driven pay. –

T. E. Raja Simhan

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