Chennai based Polaris has announced its further extension plans. It has informed that it is going to open a new office in Bangalore. This office will serve the back office development centre and can support the growing business opportunities from these areas.

Polaris has declared its first quarter financial results for the fiscal year 2010-11. Polaris has posted a net profit of Rs 46.60 crore for the quarter that ended in 30th June, 2010 which was Rs 31.84 crore for the similar quarter in the last fiscal. The company has registered a net profit hike of 46% in the quarter under review against the same quarter in the previous year.

The revenues of the company have gone up by 18% in the June quarter of the fiscal. It is reported to Rs 367.96 crore in this quarter as compared to Rs 312.22 crore during the April-June quarter of fiscal year 2009-10. According to chairman and CEO of Polaris, Mr. Arun Jain, the company has achieved net profit growth of 17% in the last fiscal with revenue figure of Rs 1,354 crore.