Oracle Financial Services Software posts FY results

Source: Oracle Financial Services Software

Oracle Financial Services Software Limited (Reuters: ORCL.BO & ORCL.NS), a majority owned subsidiary of Oracle Corporation, announced today that its full year FY09 consolidated Indian GAAP revenues were up 23%.

The full year consolidated Indian GAAP net income was up 77%, while operating income was up 81%. GAAP revenue from the products business was up 31% to Rs. 1,813 crore, while GAAP revenue from the services business was up 11% YoY to Rs. 1,043 crore.

"We are delighted to have delivered outstanding growth in earnings for the full year with the earnings per share increasing by 77% to Rs 88. The continued momentum in customer wins and growing traction in multiple markets demonstrate our compelling value proposition," said N.R.K. Raman, Managing Director and CEO, Oracle Financial Services Software.

"Driven by strong operating performance, our cash flow from operations in FY09 grew 63% over the last fiscal year. Our continued focus on cost containment and productivity improvements have resulted in operating margins increasing by 7.9 percentage points and net margins increasing by 7.7 percentage points as compared to last year. All lines of business have registered an increase in profitability," said Makarand Padalkar, Chief Financial Officer, Oracle Financial Services Software.

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