i-flex Solutions announces Q3 net profit of Rs.91.05 Crores

i-flex Solutions Ltd has announced the following Audited results for the quarter ended December 31, 2006:

The Company has posted a net profit of Rs 910.50 million for the quarter ended December 31, 2006 as compared to Rs 579.50 million for the quarter ended December 31, 2005. Revenue has increased from Rs 2974.70 million for the quarter ended December 31, 2005 to Rs 3955.60 million for the quarter ended December 31, 2006.

The following consolidated results as per GAAP:

Consolidated Results as per Indian GAAP:

The Group has posted a net income of Rs 1112 million for the quarter ended December 31, 2006 as compared to Rs 482 million for the quarter ended December 31, 2005. Revenues has increased from Rs 3880 million for the quarter ended December 31, 2005 to Rs 5574 million for the quarter ended December 31, 2006.

Consolidated Results as per US GAAP:

The Group has posted a net income of Rs 773 million for the quarter ended December 31, 2006 as compared to Rs 559 million for the quarter ended December 31, 2005. Revenues has increased from Rs 3965 million for the quarter ended December 31, 2005 to Rs 5502 million for the quarter ended December 31, 2006.

Speaking on the occasion, Rajesh Hukku, Chairman & Managing Director said, "We are witnessing a significant mindset change in the global financial industry with greater attention to the state of ageing core systems. The combined Oracle/i-flex force is already making a difference in winning several top tier names as customers."

Source : Equity Bulls

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