Oracle Financial FY'11 net profit up to Rs 1,111 crore

Posted By: Religare
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Oracle Financial FY'11 net profit up
A jump of 43.60 per cent was reported by Oracle Financial services its consolidated net profit. The net profit of the company for the year ended March 31, 2011 has now reached to Rs 1,111 crore.

While filing to the Bombay Stock Exchange (BSE), Oracle Financial declared that the net profit of Rs 773.65 was posted by the company for the same period last year. Further in the fiscal ended march 2010, the consolidated revenue of the company, for the full year was recorded to reach Rs 2,996.93 crore from Rs 2,873.97 crore.

Getting into the specific details, net profit of IT solution, on a standalone basis, increased to to Rs 967.98 crore for the 2010-11 financial year against Rs 660.84 crore in the previous year. However, the net profit got for the quarter ended March, 2011 was recorded to be Rs 372 crore.

On the results, Oracle Financial Services Software CEO & MD Chet Kamat commented that the company has signed new licenses of licenses of USD 39 million, registering 29 per cent year-over-year growth, for the quarter ended March, 2011.

The influencing figures of the net profit allowed the company to trade at Rs 2,177 up 10.44 per cent against the previous close on BSE. However, no dividend on euity shares for the financial year ended March, 2011 was recommended by the board of directors.

Story first published: Thursday, May 12, 2011, 9:30 [IST]
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