Polaris rev grows 7% sequentially

CHENNAI: Polaris Software revenues for the quarter-ended December 31, 2002 stood at Rs. 81.26 crore in comparison to the sequential quarter revenues of Rs. 75.89 crore, a growth of 7%. Profit after Tax for the same period stood at Rs. 6.12 crore, in comparison to sequential quarter profits of Rs. 9.27 crore.

Revenues of OrbiTech Solutions for the quarter-ended December 31, 2002 stood at Rs.77.65 crore. Profit after Tax for the same period stood at Rs.16.74 crore.

Revenues have grown over 5% sequentially during the last three consecutive quarters. Polaris cash reserves stood at Rs. 76 crore as on December 31, 2002. Six new clients were added this quarter, taking the total active client base of Polaris and OrbiTech to 129.