Outsourcing firm Polaris Software Lab Ltd. has posted higher first-quarter net profit of 174.9 million rupees, almost 120 percent higher from the year-ago quarter, while revenues rose 6.7 percent to 1.9 billion rupees. The company said the growth was helped by brisk demand for its banking and financial services software.
For the second quarter to September, the company expected revenue to increase 5-7 percent over the June quarter. The company said banking and financial services will be the major growth area in the quarter.
Polaris planned to add 2,000 people to its current staff strength of 7,000 and effect wage increases of 15 percent during the current financial year, he said.
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