As a testimony to its new strategy, Jain says the company saw nine new order wins during the quarter. Jitin Goyal, CEO of Polaris too adds that the company expects medium-term EBITDA margin in 15-16 percent range.
The company reported 24.8 percent increase in net profit at Rs 50.75 crore for the quarter ended December versus Rs 40.66 crore during the corresponding period of previous year.
Arun Jain, chairman & CEO, Polaris, says that both product and cloud business had a challenging quarter and the cloud business incurred a loss of Rs 20 crore in this quarter. The company has witnessed a slowdown in America and Europe and some deals got delayed.
Polaris chairman Arun Jain explains that the quarter's margins were boosted by operational excellence and is confident that his legal team will be able to lift the Sebi ban on the company‘s access to the capital markets.
Arun Jain, chairman and chief executive officer, Polaris told CNBC-TV18 that the company is confident of achieving of FY13 guidance. "We are going with 17% rupee revenue growth, Rs 2,400 crore guidance and we are still confident that we can make it possible."
Polaris chairman and chief executive Arun Jain told CNBC-TV18 that the company‘s intellect business would aid the effort to beat the industry estimate for revenue growth.
In an interview to CNBC-TV18, Bhusan said, "In dollar terms, we are expecting 2.7% quarter on quarter growth with a margin expansion of around 210 bps. On the bottomline we are expecting 17% quarter on quarter growth in rupee terms."
Polaris Software expects the product business to contribute 26% to the revenues ahead. Currently around 23% of the business comes from the product business.
Polaris Software Lab is to announce its first quarter results. According to CNBC-TV18’s estimates, the company’s Q1 USD revenues are seen up 4.5% at USD 101 million versus USD 96.67 million, quarter-on-quarter.
Sharekhan has come out with its earning estimates on IT sector for the quarter ended June 2011. According to the research firm, Polaris Software June quarter net sales expected to go up by 26.4% at Rs 456 crore, year-on-year, (YoY) basis.
Polaris Software Lab has announced its fourth quarter results. Arun Jain, Chairman and CEO, Polaris says, the result is good, 9% quarter-on-quarter (QoQ) revenue growth is a sign of picking up. Next year, he says, the company is looking at 20-25% revenue growth. “We are looking at a revenue of between USD 425-435 million in 2011-2012.”
Polaris Software is set to report fourth quarter profit after tax of Rs 52 crore, a 3.73% growth as compared to Rs 50.2 crore in previous quarter.
Polaris Software Lab is to announce its fourth quarter results. According to CNBC-TV18’s estimates, the company’s Q4 net sales are seen up 5% at Rs 420 crore versus Rs 399.9 crore.
Polaris Software Labs reported net profit of Rs 50.13 cr for the December quarter against Rs 48.15 cr in the same quarter a year ago. Its revenues for the current quarter stood at Rs 399.9 cr versus Rs 388.84 cr, year-on-year (YoY).
Arun Jain, chairman and CEO of Polaris said the company crossed EPS of Rs 20 this quarter. "We are inching towards a USD 100 million quarter," he informed adding, "We have maintained EPS guidance of Rs 20 for the quarter."
Polaris Software is to announce its third quarter results. According to CNBC-TV18's estimates, the company's Q3FY11 revenues are seen up at Rs 397.37 crore versus Rs 388.84 crore, quarter-on-quarter, (QoQ).