Date:22/07/2006 URL: http://www.thehindubusinessline.com/2006/07/22/stories/2006072202390400.htm

Back Polaris net rises 74 pc

Our Bureau

Chennai , July 21

Polaris Software Lab has reported a net profit of Rs 20.27 crore for the quarter ended June 30, 2006 compared with a net profit of Rs 11.62 crore for the corresponding quarter last year, a 74 per cent increase. Revenue for the quarter was Rs 232.04 crore (Rs 209.38 crore).

At the end of June quarter, the Chennai-based software company had 7,084 employees compared to 6,908 during the end of March quarter, according to a company press release.

Revenue from Citigroup came down to 51.7 per cent during the quarter compared to 58.21 per cent in the previous quarter.