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Shares of financial technology solutions provider Polaris Software Lab today surged over 9 per cent on the bourses after it reported 12 per cent rise in consolidated net profit for the quarter ended September 30.
The scrip jumped 9.59 per cent to Rs 141 on the BSE. Similarly, on the NSE, it climbed 9.72 per cent to Rs 141.
On Saturday, the company had posted 12 per cent rise in its consolidated net profit at Rs 53.93 crore for the quarter ended September 30, 2011 against Rs 48.15 crore in the same period last fiscal.
Polaris has also increased its revenue guidance for FY’12 to Rs 2,014 crore-Rs 2,060 crore from Rs 1,968 crore-Rs 2,014 crore earlier.
Besides, the company said it will merge the IT-enabled services division of its subsidiary Optimus Global Services with itself.
The company has said that the scheme of arrangement (demerger) is being planned in order to synergise the operational and business efficiencies of this business.
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