Polaris Software Net profit soars 78.5% in Q4

Polaris Software Net profit soars 78.5% in Q4Chennai-based Polaris Software has finally declared its fourth quarter results on Monday.

The firm posted a 78.5 per cent growth in its net profit at Rs 130.71 crore during the year ended March 31, 2009 against Rs 73.22 crore in the previous year.

The company's Q4 net profit stood at Rs 32.1 crore versus Rs 37.16 crore, QoQ.

Apart from this, the company's total income rose 18 per cent to Rs 337.25 crore in the fourth quarter, from Rs 286.16 crore in the same period last fiscal.

While the company's revenues grew by 25.34 per cent from Rs. 1099.3 crore in 2007-08 to Rs. 1377.95 crore in 2008-09.

For the financial year ended March 31, 2009, Polaris reported a 79 per cent growth in PAT at Rs 130.71 crore, while it had a PAT of Rs 73.22 crore last year.

The company said in a release that, during the quarter it incurred a foreign exchange loss of Rs 19.59 crore.

The board has declared a dividend of 25 per cent at the rate of Rs 1.25 a share for the financial year 2008-09.

Shares of Polaris were trading at Rs 65.70, down 3 per cent in the late afternoon trade on the BSE.