Friday, January 23, 2009

Polaris net surges 94%

Polaris Software Lab on Tuesday nearly doubled its net profit in October-December quarter despite forex-related losses, boosting itsstock prices by almost 30 %.Net profit surged 94% to Rs 37.17 crore over last year, with income from software and services going up by 32% to Rs 372.6 crore in the quarter. Sales were helped by core banking deals in Asian countries such as Vietnam and consumer finance projects in countries such as Egypt.

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