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Polaris Consulting & Services Ltd, a digital transformation solutions and services provider, reported a marginal drop in net profit to ₹37 crore for the third quarter ended December 31, 2015 from ₹39 crore for the corresponding quarter last year. Out of the total estimated one-time transaction costs of ₹21.2 crore related to the special purchase agreement signed last November with the US-based Virtusa Corporation, the company provisioned ₹10.6 crore in the quarter, said a Polaris press release. Revenue for the quarter were ₹517.59 crore, a 9 per cent year-on-year growth. The deal with Virtusa is expected to close in the fourth quarter of this financial year, the release said.
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