Polaris Consulting Q1 profit dips 8.85% at Rs 38 cr

Revenue rises to Rs 496 cr as compared to Rs 475 cr, an increase of around 4%

Polaris Consulting & Services Ltd has reported a 8.85% profit during the quarter ended June 30, 2015 at Rs 38.08 crore as compared to Rs 41.77 crore, a year ago.

Company's revenue rose to Rs 496 crore as compared to Rs 474.67 crore, an increase of around 4%.

The company remain focused on the three-pronged strategy of investing in digital solutions, deepening the footprints in key accounts and acquiring new clients in the Tier-2 space.

Internally the company focussed on cost optimisation and process simplification is beginning to show results, said Jitin Goyal, CEO and Executive Director, Polaris Consulting & Services Limited.

"With Q1 revenue up by 6% QoQ, and PAT of Rs 38 crore, we are on track in terms of our growth path. We have initiated cost optimisation efforts, the benefits of which will be fully realised in Q4 of FY16. We are looking at growth led by our digital transformation capabilities in FY16," said, NM Vaidyanathan, Chief Financial Officer, Polaris Consulting & Services Limited.

The company has said during the first quarter it added four new clients, taking the total active clients were 159 against 157 in the last quarter. Talent strength of 7305, excluding BPO division.