Polaris ups FY09 EPS forecast on good visibility

[Kalyan]

Polaris ups FY09 EPS forecast on good visibility

Polaris Software Lab Ltd said on Tuesday it has raised its earnings per share forecast for the whole year to Rs 13.50 from Rs 12.50 earlier. The revision in guidance for 2008/09, was done on the basis of its current visibility of orders, it said in a statement.

"We have been able to sustain growth in revenue as well as profits in the last six quarters," Arup Gupta, director and chief operating officer, said in a statement.

The company announced a 89 per cent rise in consolidated net profit for the quarter to September at 344.3 million rupees while net sales rose 28 per cent to 3.5 billion rupees. Its earnings per share during the quarter rose to Rs 3.48 from Rs 1.83.