Polaris Financial Technology announced a sharp drop in consolidated net profit for the quarter ended September 2014. During the quarter, the profit of the company declined 17.82% to Rs 491.52 million from Rs 598.14 million in the same quarter last year.
Net sales for the quarter declined 21.83% to Rs 4,768.98 million, compared with Rs 6,100.79 million for the prior year period.
Earnings per share for the quarter stood at Rs 4.85, registering 19.17% decline over previous year period.
| Quarterly Results - consolidated (Rs in mn) |
| As at | Sep - 14 | Sep - 13 | %Change |
| Net Sales | 4,768.98 | 6,100.79 | (21.83) |
| Net Profit | 491.52 | 598.14 | (17.82) |
| Basic EPS | 4.85 | 6.00 | (19.17) |
Shares of the company declined Rs 6.15, or 3.03%, to settle at Rs 196.50. The total volume of shares traded was 79,801 at the BSE (Friday).
