Polaris Q2 net profit at Rs 53.46 cr

Financial technology company Polaris today reported a marginal dip in net profits to Rs 53.46 cr for the second quarter ended September.

The Chennai-based company had posted a net profit of Rs 53.82 crore in the same period last year, Polaris Financial Technology said in a filing to the BSE.

For the half year period ended September 30, 2012, net profits grew to Rs 144.7 crore against Rs 98.36 crore in the same period last year.

Net income from operations for the quarter rose to Rs 585.89 crore from Rs 509.73 crore.

For the half-year period, the net income from operations was Rs 1,155.21 crore against Rs 959.92 crore during the same period last year.

Shares of the company closed at Rs 128 apiece, up by 1.71% from the previous close on the BSE.