Chennai (India), August 06, 2015:
Polaris Consulting & Services Ltd (NSE and BSE: POLARIS), a leader in digital transformation solutions and services, announced its results for the first quarter of FY16 today.
"We remain focused on our three-pronged strategy of investing in Digital solutions, deepening our footprints in key accounts and acquiring new clients in the Tier-2 space. Internally our focus on cost optimization and process simplification is beginning to show results." said Jitin Goyal, CEO and Executive Director, Polaris Consulting & Services Limited
Key Financial Highlights
For the quarter ended 30 June, 2015:
Business Highlights
"With Q1 revenue up by 6% QoQ, and PAT of Rs 38 Cr, we are on track in terms of our growth path. We have initiated cost optimisation efforts, the benefits of which will be fully realised in Q4 of FY16. We are looking at growth led by our digital transformation capabilities in FY16," said, NM Vaidyanathan, Chief Financial Officer, Polaris Consulting & Services Limited
Financial Results for the First Quarter Ended June 30, 2015
POLARIS CONSULTING & SERVICES LIMITED (Formerly known as Polaris Financial Technology Ltd)
Unaudited consolidated financial results for the first quarter ended June 30, 2015 prepared as per Indian GAAP
Rs. Lakhs
|
Particulars
|
QUARTER ENDED
|
YEAR ENDED
|
||
June 30, 2015 |
March 31, 2015 |
June 30, 2014 |
March 31, 2015 |
|
| INCOME | ||||
Income from Software development, Support & BPO services |
49,583.48 |
46,701.57 |
47,467.58 |
189,334.54 |
EXPENDITURE |
||||
Software development expenses |
35,153.44 |
34,691.61 |
35,034.10 |
139,964.80 |
Selling & Marketing and General & Administrative expenses |
8,050.64 |
6,981.82 |
6,391.20 |
26,860.97 |
Total Expenditure |
43,204.08 |
41,673.43 |
41,425.30 |
166,825.77 |
Profit before interest, depreciation & amortisation other Income, foreign exchange gain/ (loss), exceptional items & tax |
6,379.40 |
5,028.14 |
6,042.28 |
22,508.77 |
Depreciation and Amortisation expenses |
674.59 |
670.65 |
763.94 |
2,790.87 |
Profit before other Income, foreign exchange gain/ (loss), exceptional items & tax |
5,704.81 |
4,357.49 |
5,278.34 |
19,717.90 |
Foreign exchange gain/ (loss) |
(445.04) |
436.52 |
(162.46) |
1,182.81 |
Other Income including exceptional items |
450.27 |
438.31 |
457.41 |
2,242.24 |
Profit before tax |
5,710.04 |
5,232.32 |
5,573.29 |
23,142.95 |
Provision for taxation |
1,902.95 |
1,530.12 |
1,395.90 |
6,422.28 |
Profit after tax |
3,807.09 |
3,702.20 |
4,177.39 |
16,720.67 |
Minority Interest/ Share of profit/(loss ) of Associate Companies |
1.48 |
6.31 |
- |
6.31 |
Profit for the period |
3,808.57 |
3,708.51 |
4,177.39 |
16,726.98 |
Investor Conference Call
The Board of Directors of Polaris Consulting & Services Limited met on 6th August 2015, to take on record the financial results of the company for the First quarter ended June 30, 2015.
Polaris Consulting & Services Ltd. will host an Investors Conference Call on 6th August 2015, where the Senior Management of Polaris will comment on the company's performance during the First quarter ended June 30, 2015 and respond to questions from participants. The conference call will take place at 17:00 Hrs IST on Thursday, 6th August 2015.
The dial-in numbers to join the conference call:
| Conference Name |
: | Q1 FY16 Investors earnings call | |||
| Date |
: | 06 August 2015 | |||
| Time | : | 17:00 HRS IST | |||
| Conference ID | : | 3583513 | |||
| ACCESS NUMBERS | |||||
| MUMBAI |
: | Primary Access | Toll Number | : | 02230360400 |
| BANGALORE |
: | Primary Access | Toll free Number | : | 08030360400 |
| DELHI |
: | Primary Access | Toll free Number | : | 01130360400 |
| CHENNAI |
: | Primary Access | Toll free Number | : | 04430360400 |
| INDIA |
: | Primary Access | Toll free Number | : | 180030131313 |
| HONG KONG |
: | Primary Access | Toll free Number | : | 800901420 |
| SINGAPORE |
: | Primary Access | Toll free Number | : | 8001011906 |
| US and Canada |
: | Primary Access | Toll free Number | : | 18663944523 |
| UK |
: | Primary Access | Toll free Number | : | 08081681758 |
| UAE | : | Primary Access | Toll free Number | : | 8000174397 |