Info-tech

Oracle Financial FY11 net up 44%

PTI Mumbai | Updated on May 11, 2011 Published on May 11, 2011

Oracle Financial Services Software Ltd today reported a 43.60 per cent jump in consolidated net profit to Rs 1,111 crore for the year ended March 31, 2011.

The company had posted a net profit of Rs 773.65 crore for the same period last year, Oracle Financial said in a filing to BSE.

Consolidated revenue for the full year rose to Rs 2,996.93 crore from Rs 2,873.97 crore in the fiscal ended March, 2010.

On a standalone basis, the IT solution provider’s net profit increased to Rs 967.98 crore for the 2010-11 financial year from Rs 660.84 crore in the previous year.

For the quarter ended March, 2011, the company’s net profit was Rs 372 crore.

Commenting on the results, Oracle Financial Services Software Chief Executive Officer and Managing Director, Mr Chet Kamat, said, “For the quarter ended March, 2011, we signed new licences of $39 million, registering 29 per cent year-over-year growth.”

The board of directors of the company did not recommend any dividend on equity shares for the financial year ended March 31, 2011.

Boosted by strong numbers, shares of the company were trading at Rs 2,177, up 10.44 per cent from the previous close on BSE.

Published on May 11, 2011
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