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Oracle reports decline in net profit of Q1, falls 16.50 percent to Rs 329.33 crore

On Thursday, the IT firm Oracle Finance Services Software has reported a fall of 16.50 percent in its consolidated net profit at Rs 329.33 crore for the first quarter ended June 30, 2015.

According to a BSE filing, the company had posted a net profit of Rs 394.43 crore for the same period of previous fiscal.

The total income from operation on a consolidated basis also declined 1.53 percent to Rs 1,056.56 crore during the April-June quarter against Rs 1,072.98 crore in the corresponding year-ago period.

Cheat Kamat, Managing Director and CEO at Oracle Financial Services Software said, “We maintained a strong winning momentum to sign deals across all our product lines across the globe. For the quarter ended June 2015, we signed new licences of $25 million.

“Our product capability offers customers multiple deployment choices thereby giving them the competitive edge.”

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