Polaris reports Rs 37-cr profit in Q4

The company added five new clients during the quarter; Revenue stood at Rs 467 cr

 

Polaris Consulting & Services Ltd, which focuses on digital transformation solutions and services, reported a net profit of Rs 37 crore during the quarter ended March 31, 2015 as against Rs 45.41 crore, a year ago. Revenue stood at Rs 467.65 crore as against Rs 645.49 crore. Previous year financials are not comparable with the current year financials consequent to demerger of product business during the current year.

The company said that five new clients were added during the quarter.

"We have been able to maintain our revenues and sustain margin levels despite 2014-15 being the year of restructuring and demerger. We realigned our organisation around a core digital strategy in order to drive transformation programs for our clients. 24 new clients during a challenging year has energised the organisation and validated our strategy. The green shoots of digital led growth are now visible and we are confident that 2015- 16 would be a growth year" said Jitin Goyal, CEO and Executive Director, Polaris Consulting & Services Limited.

N M Vaidyanathan, Chief Financial Officer, Polaris Consulting & Services Limited commented that the company could sustain EBITDA levels despite adverse cross-currency movements, as well as increased contribution to CSR.