Polaris Software back in black; Q3 net at Rs 32cr

Polaris Software Lab has posted a consolidated net profit of Rs 32.28 crore for the quarter ended December 31, 2006 (Q3FY07) whereas it had posted a net loss of Rs 5.71 crore for Q3FY06.

According to an official release issued by the company to the BSE today, total income has increased to Rs 278.08 crore for Q3FY07, from Rs 202.35 crore for Q3FY06.

On a stand-alone basis, the company has posted a net profit of Rs 29.38 crore for the quarter ended December 31, 2006 as compared to a net loss of Rs 7.54 crore for the quarter ended December 31, 2005. Total income has increased to Rs 245.49 crore for Q3FY07 from Rs 169.66 crore for Q3FY06.

The board of the company has recommended an interim dividend of 20%, i.e. Re 1 per share.