Polaris Software has rallied 9% to Rs 140 after reporting 21% quarter-on-quarter growth in net profit to Rs 54 crore for the quarter ended September 2011, as compared to Rs 44.56 crore in the June quarter. On year-on-year basis, the net profit growth of 12% from Rs.48.15 crore.
The mid-cap information technology company has reported revenue of Rs 510 crore for the quarter ended September 30, 2011, up from Rs 388 crore in the same quarter last year.
Meanwhile, the company has revised its revenue guidance for 2012 to Rs 2,014-2,060 crore from Rs 1,968-2,014 crore announced earlier, due to the robust volume growth and strong performance of Intellect software.
A combined 929,288 equity shares have already changed hands on the counter till 0954 hours, against an average around 800,000 shares that were traded daily in past two weeks.