Polaris Software Labs announced it's Q1 FY10 results. Revenues were down Rs 325.52 crore versus Rs 337.24 crore (QoQ) whereas net profits were down marginally from Rs 32 crore to Rs 31.83 crore.
Arun Jain, Chairman and CEO, Polaris, said in an interview to CNBC-TV18 that the market was responding better than earlier. He feels product license deals will provide an upside. "Business volumes are shifting to offshore," he added.
Friday, July 31, 2009
Polaris Q1 net down; biz volumes shifting offshore
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