Polaris Software net profit rises 94 percentJanuary 19th, 2009 CHENNAI - The net profits of Polaris Software rose 94 percent to Rs.371 million for the quarter ended December compared to Rs.191 million in the corresponding period last fiscal. The revenue of the company grew by 32 percent to Rs.3.72 billion during the third quarter as against Rs.2.82 billion in the corresponding period last year.
Polaris to double revenue from insurance verticalJanuary 19th, 2009 CHENNAI - The city-based banking software major Polaris Software Lab hopes to double its revenue to $40 million next year from insurance vertical following the acquisition of US-based insurance product and component services player SEEC Inc., said a top company official here Tuesday. Last November, the company's Singapore subsidiary acquired SEEC for around Rs.370 million (Rs.37 crore).
Polaris to set up centre for insurance solutionsApril 14th, 2009 CHENNAI - City-based banking, financial services and insurance software company Polaris Software Lab Ltd will invest $20 million to set up a centre for excellence for insurance near Chennai, a top official said Tuesday. 'The eight-storey centre will house 2,500 employees and will be completed in 18 months,' Arun Jain, chairman and chief executive of Polaris, told reporters at the foundation stone laying ceremony.
Dell profit sinks 23 percent in slumping PC market but edges past Wall Street estimatesAugust 27th, 2009 Dell profit down 23 pct but just beats estimateSAN FRANCISCO — Dell Inc. says its second-quarter profit fell 23 percent as the personal-computer industry's slump dragged on this summer.
Summary Box: Dell profit sinks 23 percent in slumping PC marketAugust 27th, 2009 Summary Box: Dell profit down 23 pctFINICKY BUYERS: Dell Inc.'s second-quarter profit fell 23 percent as demand for computers remains soft. Sales fell 22 percent.
NIIT annual net profit up 44.1 percentMay 27th, 2009 NEW DELHI - IT training and talent development company NIIT has reported a 44.1 percent increase in standalone net profit for 2008-09 despite a 17.8 percent fall in its fourth quarter earnings. The company's net profit for last fiscal stood at Rs.47.21 crore, up from Rs.32.77 crore in 2007-08, while the January-March quarter profit fell to Rs.23.14 crore from Rs.28.14 crore in the same period of 2008.
NIIT net profit dips 60 percentJanuary 19th, 2009 NEW DELHI - IT training major NIIT Ltd Tuesday reported a net profit of Rs.55 million for the third quarter ending December 31, a 60 percent dip compared to Rs.139 million profit in the same period a year before. The dip in profits has been attributed to the launch of NIIT Uniqua and increased depreciation due to new school projects that impacted profit after tax (PAT) for the quarter, a company statement said.
Summary Box: HP's third-quarter profit plunges 19 percent as PC, ink sales remain weakAugust 19th, 2009 Summary Box: HP profit hurt by weak PC, ink salesPROFIT PINCHED: Hewlett-Packard Co.'s fiscal third-quarter profit fell 19 percent despite what the company described as improving conditions in the consumer personal computer market. HP's net profit was $1.64 billion, or 67 cents per share, versus $2.03 billion, or 80 cents per share, in the year-ago period.
Wipro net profit up 18 percent in third quarterJanuary 20th, 2009 BANGALORE - Wipro Ltd has posted a net profit of Rs.10.04 billion (Rs.1,004 crore/$204 million) for the third quarter (October-December) of this fiscal (2008-09), registering 18 percent year-on-year (YoY) growth under the Indian accounting system. In regulatory filing Wednesday, the IT bellwether said its consolidated revenues for the quarter under review (Q3) was Rs.66.18 billion (Rs.6,618 crore), posting 25 percent YoY growth.
Pomeroy IT reports sharp drop in 2nd-quarter profit as revenue declines 35 percentAugust 25th, 2009 Pomeroy IT posts lower 2Q profit, salesHEBRON, Ky. — Information technology services provider Pomeroy IT Solutions Inc.
HCL Tech net profit up 49.1 percentJanuary 22nd, 2009 NEW DELHI - Software and outsourcing major HCL Technologies Friday reported 49.1 percent growth in its net profit for the quarter ended Dec 31 at Rs.3.98 billion (Rs.398 crore/$80.7 million) as against Rs.2.67 billion a year ago. The company's net profit for the half-year period ended Dec 31 was up 22.7 percent at RS.65.18 billion as against Rs.53.11 billion in the corresponding period last year.
NIIT Technologies profit dips 13.5 percentJuly 29th, 2009 NEW DELHI - IT solutions provider NIIT Technologies Wednesday reported a 13.5 percent dip in its operating profit to Rs.39.4 crore for the quarter ended June 30 as against Rs.45.6 crore in the like period last fiscal. The company's consolidated revenues too dipped 11 percent to Rs.218.2 crore from Rs.245.8 crore, NIIT said in a regulatory statement.
Oracle profit rises 4 pct, matching Street views, despite 5 percent sales dropSeptember 16th, 2009 Oracle net rises 4 pct, matching Street viewsSAN FRANCISCO — Oracle Corp. says its quarterly profit rose 4 percent despite a 5 percent drop in sales.
Saksoft's net profit up by 333 percentJune 30th, 2009 CHENNAI - The city-based software company Saksoft Limited Tuesday declared its 2008-09 net profit was up by 333 percent though its topline remained flat compared to the previous year. "In spite of tough market conditions, the company closed last fiscal with a turnover of Rs.120.48 crore (Rs.1.20 billion) and a profit of Rs.9.63 crore as against Rs.120.10 crore and Rs.2.22 crore, respectively, in the previous year," managing director Aditya Krishna told reporters here Tuesday.
Novell swings to 3rd-quarter profit on lower operating expenses, misses analysts' estimatesAugust 28th, 2009 Novell posts 3Q profit as it cut costsWALTHAM, Mass. — Novell Inc., which sells computer-networking software and technology services, said Thursday it swung to a third-quarter profit from a year earlier as it cut operating expenses by 20 percent.
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