Polaris net up 104%

BS 200 Scorecard

Polaris Software Lab has reported a growth of 104 per cent in its consolidated profit after tax at Rs 27.10 crore for the second quarter ended September 30 as against Rs 13.26 crore in the corresponding period of the previous financial year.

The revenue of the company grew by about 20 per cent to Rs 255.57 crore from Rs 213.56 crore. The company's intellectual property-led (IP) services business has grown by 23.07 per cent on a sequential quarter-on-quarter basis and contributed 16.65 per cent to the overall revenues during the quarter.

During the first quarter, the IP-led business contributed 14.90 per cent to the overall revenues of Rs 232.04 crore. The company's operating margins had grown to 18 per cent.