BUSINESS PROFILE :
The Chennai-based Polaris Software Labs is a software and IT solutions provider to several multinational clients in the BFSI (banking, financial services, insurance) vertical. Incorporated in 1993 as a private company, it went public in June 1996. The company caters to global clients through worldwide offices in US, Canada and also countries in Europe and Asia-Pacific. It has subsidiaries in UK, Singapore, Australia, Japan, Ireland, Switzerland, Germany and Canada.
Optimus Outsourcing Company Ltd is a wholly owned subsidiary of Polaris. Optimus is a BPO service provider providing a complete spectrum of back office services in the banking and financial services sector.
On account of increased IT spending by financial services companies and growth in demand of web services and offshore IT services, the investments of the company are set to grow. The company will leverage on its domain knowledge to add value to customers by advising them on the best practices and by pursuing a strategy of focus on key and specialized services.
Financials
Polaris Software Lab registered a 197.20% growth in net profits to Rs 142.24 million for the quarter ended in March, 2007 from a profit of Rs 47.86 million for the quarter ended in March, 2006.
Net Sales for the quarter rose 47.18% to Rs 2386.60 million for the quarter ended March, 2007 from Rs 1621.50 million for the quarter ended March, 2006.
Total income rose 43.09% to Rs 2385.09 million for the quarter ended March, 2007, from Rs 1666.79 million for the quarter ended March, 2006.
The earnings per share (EPS) of the company stood at Rs 1.45 in the quarter ended March, 2007.
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