Polaris Software Q4 net down 34.61 pc, FY 06 dividend at 25pc

Mumbai, Apr 27 (UNI) Polaris Software Lab Ltd has posted a profit of Rs 4.78 crore for the quarter ended March 31, as compared to Rs 7.31 crore for the coresponding quarter last year, a decline of 34.61 per cent.

Announcing the results, the company said its total income has decreased from Rs 177.39 crore in Q4 FY 05 to Rs 166.67 crore for Q4 FY 06.

It has posted a profit of Rs 13.29 crore for FY 06) as compared to Rs 53.42 crore for FY 05. Total income has increased from Rs 685.01 crore in FY 05 to Rs 689.94 crore for FY 06.

The group has posted a profit of Rs 21.30 crore for FY 06 as compared to Rs 58.04 crore FY 05. Total income has increased from Rs 800.43 crore in FY 05 to Rs 833.40 crore for FY 06. The figures for the quarter ended March 31, 2005 are unaudited.

The board has recommended a dividend of 25 per cent (Rs 1.25 per share) for the financial year 2005-06, subject to the approval of members.

The company CEO&chairman Arun Jain said, ''Polaris being recognised as a global leader for speciality application services, is the validation of our strategy, which we embarked on, 3 years back. Signing 4 AAA accounts in a single quarter is a visible proof that now global financial institutions are looking for differentiated services rather than just arbitrage service.'' UNI SN PP SKB2019