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  1. Polaris Q3 net dips 7%

Polaris Q3 net dips 7%

Polaris Consulting & Services has posted a 7% drop in its net profit at R36.54 crore for the third quarter as against R39.25 crore in the same quarter last fiscal.

By: | Published: February 9, 2016 1:20 AM

Polaris Consulting & Services has posted a 7% drop in its net profit at R36.54 crore for the third quarter as against R39.25 crore in the same quarter last fiscal.

Out of the total estimated one time transaction costs of R21.2 crore related to the share purchase agreement (SPA) with Virtusa Corporation, the company provisioned R10.6 crore in this quarter, consequent to which PAT came in at R36.54 crore. The revenues for the quarter stood at R517.59 crore, registering 9% year on year growth compared to R474.76 crore in the same quarter last year. EBITDA was at R71.58 crore registering 33 % YoY growth.

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