- Net Income of Rs. 359 Crore, up 2% Year over Year
- Revenue for the Quarter at Rs. 1,163 Crore, down 4% Year over Year
Oracle Financial Services Software Limited (Reuters: ORCL.BO and ORCL.NS), a majority owned subsidiary of Oracle, today announced results for the quarter ended September 30, 2019. On a consolidated basis, Net income for the quarter was Rs. 359 Crore, up 2% compared to the quarter ended September 30, 2018. Revenue for the quarter was Rs. 1,163 Crore, down 4% as compared to quarter ended September 30, 2018. The operating income for the quarter was Rs. 490 Crore, up 1% compared to the quarter ended September 30, 2018.
For the quarter ended September 30, 2019, the Products business posted revenue of Rs. 1,020 Crore, down 3% year-over-year, and the Operating Margin was 48%, up 1 percentage point as compared to corresponding quarter of last fiscal year. For the same period, the Services business posted revenue of Rs. 113 Crore, up 5 percentage points as compared to corresponding quarter of last fiscal year.
Chet Kamat, Managing Director and Chief Executive Officer, Oracle Financial Services Software said, "We delivered an overall balanced performance for the quarter and half-year. While license signings of US$ 12 million exhibited a typical seasonal Q2 dip, we continue to work on a strong deal pipeline. We also continue to invest in strengthening our solutions portfolio to help financial institutions transition smoothly in their transformation initiatives to deal with digital disruption and regulatory demands."
Makarand Padalkar, Executive Director and Chief Financial Officer, Oracle Financial Services Software said, "Our execution capabilities continued to deliver strong operating margins expanding across all our business lines. Year-over-Year Product business margins went up from 47% to 48%, Services business margins grew from 12% to 17% and BPO business margins increased from 27% to 33%."
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