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.
Polaris profit dips marginally
Published on
February 9, 2016 16:44
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