Polaris Software proposes 90 percent dividend payout
April 28th, 2011 - 8:40 pm ICT by IANSChennai, April 28 (IANS) Banking, financial services and insurance (BFSI) software development and services firm Polaris Software Lab Ltd’s board Thursday recommended a dividend of Rs.4.50 per share (90 percent) for 2010-11 after the company closed the year with a profit of Rs.202 crore.
This was up from Rs.153 crore earned the previous fiscal. The company closed last year with a turnover of Rs.1,612 crore up from Rs.1,327 crore earned the previous year.
“The clear mission we set for ourselves three years ago was repeatable predictable profitable growth, with single minded focus on taking leadership in the financial technology space. Our sales funnel has grown from $300 million to $610 million this year, reflecting our emphatic positioning as a global financial technology leader,” said founder, chairman and CEO Arun Jain.
According to Polaris chief financial officer R.Srikanth, the company is confident of having revenue growth between 22-25 percent during the current year, ahead of the industry’s growth average.
Polaris Software Wednesday announced the acquisition of 85.3 percent stake in the US based IdenTrust Inc, an identity solutions company, for $20 million and its entry into the cloud computing space in a major way.
- Polaris Software acquires US firm for $20 mn - Apr 27, 2011
- Polaris Software eyes $100 mn revenue by 2016 - Aug 02, 2011
- Polaris Software bottom line grows by 46 percent - Jul 15, 2010
- Polaris to acquire Laser Soft for Rs.52 crore - Oct 15, 2009
- Polaris picks up 51 percent stake in Indigo TX - Mar 26, 2010
- Infosys beats guidance, revises outlook again - Oct 12, 2011
- Polaris launches new insurance claims processing solution - May 21, 2012
- Infosys profits from weak rupee, lowers dollar guidance (Lead) - Jan 12, 2012
- Maruti Suzuki Q4 profit flat at Rs.660 crore - Apr 25, 2011
- Mahindra Satyam's net profit up by six percent - Nov 10, 2011
- Infosys beats guidance but stock dips on muted earnings - Jul 12, 2011
- Tube Investments logs 37 percent net profit growth - Apr 30, 2012
- Biocon net marginally down in fiscal 2012 - Apr 27, 2012
- Tube Investments of India net down Rs.11.59 crore - Aug 06, 2012
- Ranbaxy reports Rs.464.6 crore net loss - Nov 09, 2011
Tags: acquisition, arun, chief financial officer, dividend payout, financial services, financial technology, founder chairman, minded focus, percent stake, polaris software lab, previous year, profitable growth, rs 1, s board, sales funnel, software development, solutions company, technology leader, technology space, turnover