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Polar Consulting drops after weak Q1 results

Capital Market 

Polar Consulting & Services lost 4.39% to Rs 230 at 9:54 on after consolidated net profit fell 8.64% to Rs 30.21 crore on 2.39% decline in net sales to Rs 554.95 crore in Q1 June 2017 over Q4 March 2017.

The result was announced after market hours yesterday, 7 August 2017.

Meanwhile, the S&P Sensex was down 94.33 points or 0.29% at 32,179.34. The S&P Small-Cap index declined 83.14 points or 0.52% at 16,026.07.

On the BSE, 4,944 shares were traded on the counter so far as against the average daily volumes of 40,618 shares in the past one quarter. The stock had hit a high of Rs 238 and a low of Rs 228.80 so far during the day. The stock had hit a 52-week high of Rs 261 on 23 June 2017 and a 52-week low of Rs 141.10 on 9 November 2016.

The stock had underperformed the market over the past one month till 7 August 2017, sliding 1.6% compared with the Sensex's 2.91% rise. The stock had, however, outperformed the market over the past one quarter, gaining 15.84% as against the Sensex's 8.09% rise. The scrip had also outperformed the market over the past one year, advancing 25.68% as against the Sensex's 14.94% rise.

The small-cap company has equity capital of Rs 51.11 crore. Face value per share is Rs 5.

Polar Consulting & Services' revenue declined on the backdrop of currency appreciation. Profit declined due to lower operating profit and unfavorable currency movements. Profit was impacted due to proactive hiring and account level investments made for supporting future growth.

Polaris Consulting & Services is a leader in solutions and services that enable operational productivity for the global financial services industry.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 08 2017. 09:54 IST