IT company Polaris Financial Technology today reported a 9% rise in its profit after tax (PAT) to Rs 221 crore for the financial year ending March 31, 2012.
The city-headquartered company reported a PAT of Rs 202 crore in the previous fiscal, Polaris said in a statement.
The total revenue for the year ending March 31, 2012 grew by 29% to Rs 2,052 crore as compared to Rs 1,586 crore in the previous fiscal.
Polaris Financial Technology's profits after tax for the fourth quarter ending March 31, 2012 grew by 6% to Rs 61.14 crore as against Rs 57.57 crore registered during the same period in the previous fiscal.
Total revenue for the January-March quarter grew by 19% to Rs 520 crore as compared to Rs 437 crore registered in the year-ago period.
The company's operating profit (EBITDA) grew by 20% to Rs 287 crore from Rs 239 crore registered in 2011-12 fiscal.
For the quarter ending March 31, 2012, its EBITDA grew by 9% to Rs 63 crore from Rs 58 crore registered during the same period of last year.
The company expects to grow at 17-20% for the financial year ending March 31, 2013 and revenues are pegged to be in the range of Rs 2,400 crore to Rs 2,460 crore, the statement said.
"It is satisfying to see that our Polaris 3.0 strategy of repeatable, predictable and profitable growth has paid off," Polaris Financial Technology Founder-Chairman and CEO Arun Jain said.
In the last four years, revenue in both product business as well as services doubled and PBDT (Profit Before Depreciation and Tax) grew from Rs 135 crore to Rs 330 crore, he said.
The company currently has about 12,886 employees on its rolls. It reported an attrition rate of 15.60% for the fourth quarter ending March 31, 2012, it added.
