Polaris Consulting and Services Q4 net profit at Rs 32.92 cr

Polaris Consulting and Services today said it has posted a consolidated net profit of Rs 32.92 crore for the fourth quarter ended March 2017.
The Chennai-based company had posted a net loss of Rs 18.48 crore in the year-ago period.
The company's total income increased 11.6 per cent to Rs 567.77 crore in the said period from Rs 508.63 crore in the January-March quarter of 2015-16, Polaris said in a statement.
For the full-year, net profit was up 58 per cent to Rs 161.44 crore, while total income grew 1.4 per cent to Rs 2,100 crore as compared to 2015-16.

"Despite a challenging macroeconomic environment and currency head-winds in fourth quarter, we recorded growth both in revenue and operating profit as compared to FY16," Polaris Consulting and Services Chief Financial Officer N M Vaidyanathan said.
He added that the company expects to make additional investments in sales and marketing and enhance domain expertise in digital technologies.
As on March 31, 2017, cash, cash equivalents and investments stood at Rs 530 crore as compared to Rs 524 crore in the preceding quarter. It had 7,327 employees at the end of March 2017 quarter.