Online BusinessOracle Financial Q1 net profit up 76%
IT financial services solutions vendor Oracle Financial Services Software today said its consolidated net profit rose by 75.99 per cent to Rs 185.78 crore for the first quarter ended June 30, 2009, over the same period last year.
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Consolidated total income decreased to Rs 670.1 crore in the latest quarter against Rs 681.02 crore in the same period last fiscal, the company said in a filing to the Bombay Stock Exchange (BSE).
"We are pleased to open fiscal year 2010 on a positive note, with product business revenues of Rs 442 crore, an increase of 22 per cent compared to the same quarter last year," Oracle Financial Services MD and CEO N R K Raman said.
On the standalone basis, the company has posted a growth of 65 per cent in its net profit to Rs 152.22 crore in the current quarter.
Standalone total income rose to Rs 545.62 crore in the quarter under review, against Rs 462.8 crore in the same period last year.
Shares of Oracle Financial were trading at Rs 1,454 on the BSE, up 3.77 per cent from previous close.