Polaris Financial Technology said a sharp drop in consolidated net profit for the quarter ended June 2014. During the quarter, the profit of the company declined 11.30% to Rs 383.23 million from Rs 432.04 million in the same quarter last year.
Net sales for the quarter rose 5.95% to Rs 6,017.77 million, compared with Rs 5,680 million for the prior year period.
Earnings per share for the quarter stood at Rs 3.81, registering 12.01% decline over previous year period.
| Quarterly Results - (Rs in mn) |
| As at | Jun - 14 | Jun - 13 | %Change |
| Net Sales | 6,017.77 | 5,679.67 | 5.95 |
| Net Profit | 383.23 | 432.04 | (11.30) |
| Basic EPS | 3.81 | 4.33 | (12.01) |
Shares of the company declined Rs 12.15, or 5.24%, to trade at Rs 219.50. The total volume of shares traded was 486,294 at the BSE (12.11 p.m., Wednesday).
