Polaris Consulting and Services Q2 net at Rs 47.34 crore

NEW DELHI: Polaris Consulting and Services, formerly known as Polaris Financial Technology, today said its net profit has declined 3.6 per cent to Rs 47.34 crore for the September 2015 quarter.

This is against a net profit of Rs 49.15 crore in the year-ago period.

The company's income from software development, support and BPO services increased nine per cent to Rs 517.67 crore in the said period from Rs 476.89 crore in the July-September 2014 quarter, Polaris said in a statement.

Last year, IT services firm Polaris Financial Technology (Polaris FT) had carved out its products business into Intellect Design Arena. Polaris FT later rebranded itself as Polaris Consulting and Services.

Americas contributed 52 per cent to the quarter's revenues, while Europe and India accounted for 21 per cent and 8 per cent. Rest of the World accounted for 19 per cent.

Cash & cash equivalents stood at Rs 294 crore, while total headcount (excluding BPO) was 7,648 at September-end.