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Stock Report
i-flex Solutions Q1 net profit at Rs.58.2 Crores
Posted On : 2007-07-29 22:54:51( TIMEZONE : IST )
i-flex Solutions Ltd has announced the following Audited results for the quarter ended June 30, 2007.
The Company has posted a net profit of Rs 582.00 million for the quarter ended June 30, 2007 as compared to Rs 355.50 million for the quarter ended June 30, 2006. Revenue has increased from Rs 3083.90 million for the quarter ended June 30, 2006 to Rs 3846.40 million for the quarter ended June 30, 2007.
Consolidated Results as per Indian GAAP: The Group has posted a net income of Rs 367 million for the quarter ended June 30, 2007 as compared to Rs 351 million for the quarter ended June 30, 2006. Revenue has increased from Rs 4033 million for the quarter ended June 30, 2006 to Rs 5133 million for the quarter ended June 30, 2007.
Consolidated Results as per US GAAP: The Group has posted a net income of Rs 415 million for the quarter ended June 30, 2007 as compared to Rs 415 million for the quarter ended June 30, 2006. Revenue has increased from Rs 4075 million for the quarter ended June 30, 2006 to Rs 5320 million for the quarter ended June 30, 2007.
Speaking on the occasion, N R K Raman, CEO and Managing Director, of the Company, "We continue to enjoy strong traction with large global accounts especially in Europe and Japan. We are witnessing significant cross sell of our product and service offering to our current installed base. We are also making rapid progress in delivering the joint solution footprint along with Oracle Financial Services Global Business Unit (FSGBU), thus sustaining our leadership position in the market".
The company has reported an Earnings Per Share (EPS) of Rs.6.97 for the Quarter ending June 30, 2007 compared to Rs.4.65 for Quarter ending June 30, 2006.
The stock was trading at Rs.2200, down by Rs.30.10 or 1.35%. The stock hit an intraday high of Rs.2267.90 and low of Rs.2166. The total traded quantity was 12552 compared to 2 week average of 9639.
