Polaris Financial Technology has moved higher by 5% at Rs 119 on reporting 37% growth in net profit at Rs 61 crore in June 2012 quarter from Rs 45 crore in the corresponding quarter of previous fiscal. Revenues grew 26% at Rs 569 crore on year-on-year (yoy) basis.
The operating profit (EBITDA) grew 28% at Rs 106 crore on year-on-year basis, while margins remain intact at around 19% during the quarter under review.
The company said that it has added 14 new clients in the quarter, including nine takers for the Intellect. It had added 832 associates in April-June, taking the headcount to 13,718.
The stock opened at Rs 115 and hit a high of Rs 120 on the NSE. The trading volumes on the counter more than double, with a combined 1.68 million shares so far changed hands, against an average sub 600,000 shares that were traded daily in past two weeks.
