 "Polaris plans to sell its BPO business")
Polaris Consulting & Services Ltd (Polaris) is planning to sell its BPO business. The company said it has decided to sell the business since it does not fit into its core business.
N M Vaidyanathan, chief financial officer of Polaris, said BPO business currently contributes around 1% of the revenue, whereas it accounts for 15% of its employee base.
The BPO business currently employs around 1,000 people, of which 150 are in Guragon and Hyderabad and rest are in Chennai. It offers call centre support to telecom companies and banks.
The company clocked around Rs 20 crore and was not a profitable business and its about 6-7 year old venture.
"Polaris want to focus on its core business since we are niche in BFSI and we feel this business doesn't fit in our strategy so we decided to hive off," said Vaidyanathan.
The company has got an in-principle approval from the Board for hiving off the BPO business.
