Business Daily from THE HINDU group of publications
Wednesday, Jan 23, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Jan 23, 2008 ePaper | Mobile/PDA Version |
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Info-Tech
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Financial Performance Corporate Results - Software i-flex posts 4% fall in Q3 net Our Bureau Mumbai, Jan 22 The city based i-flex solutions Ltd, which is majority owned by Oracle Corporation, recorded a 4 per cent dip in net profit for the quarter ended December 2007. The company’s net profit was down to Rs 106.7 crore, as against Rs 111.2 crore, reported in the same quarter a year ago. Net revenues for this period were up by 11.1 per cent to Rs 619.6 crore (Rs 557.4 crore). However, on a sequential basis, the company’s net profit was up by 22 per cent, while net revenues went up by 8 per cent. Every 1 per cent rise in the rupee has a negative impact of 0.4 per cent on i-flex`s margins, Mr Makarand Padalkar, Chief Financial Officer, told Business Line. In 2007, the rupee shot up by about 12 per cent against the US dollar. Similarly in the quarter ended December 2007, the rupee rose by 2.3 per cent. More Stories on : Financial Performance | Software
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