Oracle Financial Services Software Reports Strong Q2fy24 Results

Top Stories

Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

Stock chart

Oracle Financial Services Software reports strong Q2FY24 results

ri-calendar-2-lineOct 18, 2023

By: BlinkX Research Team

FbkFbkTwitterTelegram

India-based Oracle Financial Services Software Limited, a majority-owned subsidiary of Oracle, has announced its financial results for the second quarter of fiscal year 2024, ending September 30, 2023.

 

In this quarter, Oracle Financial Services Software reported the following financial highlights:

 

Robust Revenue and Income Growth: The consolidated revenue for the quarter reached Rs. 1,445 Crore, marking a solid 5% year-over-year increase.
 

Net income for the quarter amounted to Rs. 417 Crore, showing a significant 5% year-over-year rise.

 

Operating income for the quarter stood at Rs. 531 Crore, with a marginal decrease of 2% year-over-year.


Business Segments: 
The Products business demonstrated impressive performance, reporting a revenue of Rs. 1,298 Crore, an increase of 6% year-over-year. Operating income in this segment reached Rs. 553 Crore, remaining consistent with the previous fiscal year.


The Services business, however, posted a revenue of Rs. 147 Crore, indicating a 2% year-over-year decrease. The operating income for this segment was Rs. 33 Crore, reflecting a 17% year-over-year drop.

 


Makarand Padalkar (MD & CEO) expressed his optimism for the future, highlighting strong license wins driven by marquee cloud successes. The company also boasts a robust deal pipeline across its portfolio.

 

Avadhut Ketkar (CFO) noted the company's consistent performance during the quarter, maintaining healthy financial indicators, with an operating margin of 36.8% and a net margin of 28.9%. Additionally, Oracle Financial Services Software is maintaining sound accounts receivables, with a Days of Sales Outstanding (DSO) of 61 days.

Related News

News Thumbnail
Quarterly Result

BLS's Q2FY24 Financial Performance Review

2 mins read. November 6, 2023 at 08:56 AM

News Thumbnail
Quarterly Result

Interglobe Aviation's Q2FY24 Financial Performance Review

2 mins read. November 3, 2023 at 11:31 AM

News Thumbnail
Quarterly Result

Titan's Q2FY24 Financial Performance Review

2 mins read. November 3, 2023 at 10:59 AM

News Thumbnail
Quarterly Result

Zomato's Q2FY24 Financial Performance Review

3 mins read. November 3, 2023 at 09:50 AM

Related Blogs

Stock chartDemat Account

Biggest Winners and Losers in MSCI: Key Movers in Global Indices 2025

0 people read

3 mins read . Aug 20, 2025

Stock chartMutual Fund

What MF Big Boys Bought and Sold – Top Mutual Fund Stock Activity in 2025

0 people read

8 mins read . Aug 18, 2025

Download app

Access BlinkX
everywhere
across device

Join the Future of Trading

with BlinkX

#ItsATraderThing

Open Trading Account
Verify your phone
+91
*By signing up you agree to our terms & conditions