Polaris posts 12% rise in net profit

Polaris Software Lab has reported a revenue of  

 509.74 crore for the quarter ended September 30, 2011, up from 388.34 crore in the same quarter last year and up from   450.19 crore for the quarter ended June 2011. Operating profit (earning before interest, tax, depreciation and amortisation) has increased by 25 per cent to  75.54 crore, up from   60.24 crore in the same period last year. The operating profit has grown by 19 per cent quarter-on quarter to   75.54 crore from 63.50 crore. Revenues were well distributed with America contributing 45.43 per cent. Europe 22.40 per cent IMEA 15.25 per cent and Asia Pacific 16.92 per cent Cash and Cash equivalents stood at   417 crore at the end of the September quarter.

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