Polaris consulting & Services limited reported net profit of Rs 39.2 crores for the third quarter ending 31st December 2014 as against Rs 49.1 crores for the second quarter of fiscal year 2015. In comparison to same quarter of last fiscal year net profit fell by 26% QoQ.
Third quarter revenue of Polaris stood at Rs 475.6 crores as against 476.7 crores of 2nd quarter of same fiscal year. For the third quarter of fiscal year 2013, revenue for the Polaris was Rs 643.3 crores.
EBITA for the company is at Rs 56 crores compared to Rs 74 crores of 2nd quarter same fiscal year FY 2015.
This fall is due to decline in gross income from operation and rise in employee cost.
During the year Polaris has added 5 new clients. With this addition, as on 31st December 2014 Polaris has 152 active clients.
With attrition ratio of 18.1%, Polaris has total head count of 8640 including 1277 associates in BPO.
Jitin Goyal,CEO And Executive Director of Polaris said “We Continue our focus on becoming a digital transformation partner of choice for our clients . Bulk Of our new engagements has come from the 4 Big bets, Digital, Payments, Risk And Analytics . We are successfully executing our strategy of acquiring new logos with a focus on tier 2 Banks & Corporate with 2 such marquee clients selecting us as their partner of choice for digital transformation”