Meanwhile, the company today announced its first quarter results. Profit after tax (PAT) increased by 87 per cent to Rs 27.01 crore for the quarter ended June 30 from Rs 14.42 crore compared to the same period last year. Consolidated revenue rose by 23 per cent to Rs 316.98 crore from Rs 257.45 crore.
Revenue contribution from the US grew by 37 per cent in total revenues, up by 300 basis points. Revenues from Optimus, a wholly owned BPO subsidiary of Polaris, grew by 80 per cent.
The company added 15 new customers during the quarter.
Arun Jain, Chairman & CEO, Polaris Software Lab in a release said that the company has built over 40 reference sites for the Intellect Product and have completed critical implementations in tier 1 banks. Now, the company is ready to market the product to Tier 2 banks.
