Oracle Financial Services Software has announced a robust performance for Q4 FY24, with a consolidated net profit of Rs 560.12 crore, marking a significant increase of 15.86% from Q4 FY23.
Revenue for the quarter surged by 12% year-on-year (YoY) to reach Rs 1,642 crore.
Operational Insights
Profit before tax also witnessed a notable growth of 14.51%, reaching Rs 785.24 crore in Q4 FY24 compared to Rs 685.76 crore in Q4 FY23.
The Products business segment reported a revenue of Rs 1,491 crore, up 12% YoY, while the Services business segment saw a revenue increase of 13% YoY, amounting to Rs 151 crore.
Dividend Declaration and Outlook
Oracle Financial Services Software’s board has declared an interim dividend of Rs 240 per equity share for FY24, underscoring the company’s commitment to shareholder value.
Makarand Padalkar, managing director and CEO, highlighted the company’s winning portfolio of products and services, driving significant growth in license fee signings and cloud bookings.
Financial Performance Overview
Avadhut Ketkar, CFO of Oracle Financial Services Software, emphasized the company’s robust financial performance, with a 12% revenue increase and a 17% growth in net income year-over-year.
Operating margin stood at 43% for the quarter ended March 31, 2024, reflecting strong operational efficiency and profitability.
Business Segment Performance
During the three months ended March 31, 2024, the Products business recorded a revenue of Rs 1,491 crore, up 12% year-over-year, with an operating income of Rs 718 crore, marking a 13% increase year-over-year.
Similarly, the Services business witnessed a revenue growth of 13% year-over-year, reaching Rs 151 crore, with an operating income of Rs 44 crore, up 47% year-over-year.
Management Comments
Makarand Padalkar, the managing director and chief executive officer, attributed the company’s success to its winning portfolio of products and services tailored for the financial services industry.
He highlighted a significant growth in license fee signings, indicating strong customer demand.
Avadhut Ketkar, the chief financial officer, emphasized the company’s robust financial performance, with revenue and net income increasing by 12% and 17%, respectively, year-over-year.
He underscored the company’s high operating and net margins, reflecting operational efficiency and profitability.
About Oracle Financial Services Software
Oracle Financial Services Software, a majority-owned subsidiary of Oracle Corporation, is a global leader in providing products and services to the financial services industry.
With a focus on innovation and customer-centric solutions, the company continues to drive growth and value creation in the ever-evolving financial services landscape.
