Polaris Financial Technology has increased its revenue by 18 per cent to Rs. 599 crore in the second quarter ended September 30, 2012 against Rs. 510 crore in the same period in the previous year. The operating profit grew by 52 per cent to Rs. 126 crore from Rs. 89.21 crore. On a constant currency basis, revenues stood at $113 million, growing 3 per cent from its previous quarter levels of $109 million. The profit after tax rose marginally to Rs. 55.13 crore from Rs. 53.94 crore in the same period in the previous year.
During the quarter, three large outsourcing deals were signed with two leading European banks and one U.S. major, the company said in a statement.
Keywords: Polaris Financial Technology