Polaris Q1 net up 7.61%

CHENNAI: Polaris Software Lab Ltd has posted a 7.61 percent increase in net profit to Rs 18.65 crore for the quarter ended June 30, 2004 as compared to Rs 17.33 crore for the quarter ended June 30, 2003. Total income increased from Rs 139.751 crore in the JQ-03 to Rs 171.549 crore in the quarter ended June 30, 2004.

The group posted a net profit of Rs 20.17 crore for the quarter ended June 30, 2004 as compared to Rs 16.42 crore for the Quarter ended June 30, 2003. Total income increased from Rs 150.68 crore in the JQ-03 to Rs 194.59 crore in the quarter ended June 30, 2004.

The company added nine new clients during this quarter. According to Polaris CMD and CEO, Arun Jain, "We are on course to building high quality differentiated offerings for global BFSI customers. The business model of Polaris Software is gaining acceptance in the marketplace."

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