Polaris bottom line surges to Rs 21 cr

CORPORATE SCORECARD

Polaris Software Lab has posted a growth of 909 per cent in its consolidated net profit at Rs 21.39 crore for the quarter ended March 31, 2007, as against Rs 2.12 crore in the corresponding quarter of the previous year.

The consolidated revenues grew by 36 per cent to Rs 270.78 crore in the three months to March, as compared with Rs 198.85 crore in the same quarter previous year. Intellect-led business accounted for 20.64 per cent of the fourth quarter revenue.

For the year ended March 31, 2007 (on a consolidated basis), the company's revenue crossed Rs 1,000-crore mark and the net profit crossed Rs 100 crore on higher operating margins.

The net profit for FY07 grew by 374 per cent to Rs 101.06 crore from Rs 21.30 crore in the previous year, while operating profit (EBITDA) jumped by 109 per cent to Rs 161.27 crore from Rs 77.07 crore in the previous year. The company's revenue stood at Rs 1,032.37 crore, 25 per cent higher over Rs 825.07 crore posted in the previous year.

Intellect-led revenues have shown an annual growth of 147.52 per cent over the previous year, and 251.13 per cent growth for the fourth quarter over the corresponding quarter of the previous financial year. The revenue from non-Citigroup accounts grew by 61.73 per cent for 2006-07 as compared with the previous year.