Polaris Software has achieved higher product sales growth in the quarter ended December 31, 2010. The profit after tax has increased to Rs. 50.13 crore from Rs. 40.07 crore in the three months ended December 31, 2009. Revenue has grown to Rs. 399.90 crore from Rs. 338.89 crore. The share of the U.S. in the total revenue was 44 per cent, Europe 26 per cent, IMEA 12 per cent and Asia Pacific 18 per cent. Offshore revenue has increased by 171 basis points to 56.23 per cent, an increase of 10 per ent sequentially in dollar terms. Cash and cash equivalents stood at Rs. 508 crore at the end of the quarter ended December 31, 2010. Gross addition of Rs. 81 crore to cash reserves has been the highest ever in a single quarter.
Updated: January 22, 2011 22:29 IST
Polaris achieves higher sales