Oracle Financial Services’ Q2 net profit zooms ~38% y-o-y

25 Oct 2024 , 12:24 PM

On Friday (October 24), Oracle Financial Services Software Ltd reported a 38.4% YoY increase in net profit to ₹577.7 Crore for the second quarter ended September 30, 2024.

Oracle Financial Services Software reported a net profit of ₹417.4 Crore for the same period in the previous fiscal year, according to a regulatory filing. The company’s revenue from operations climbed 15.9% to ₹1,673.9 Crore, up from ₹1,444.5 Crore in the previous fiscal year.

EBITDA increased by 34.5% to ₹750.6 Crore in the second quarter of this fiscal year, up from ₹558.1 Crore in the same period last year.

The EBITDA margin increased from 38.6% during the same period last fiscal year to 44.8% during the reporting quarter.

Oracle Financial Services’ operating income grew to ₹724 crore by 36%. The quarter’s net income rose 38% to ₹578 crore. Revenue from the goods division reached ₹1,518 crore, a 17% increase over the previous year.

Makarand Padalkar, Managing Director and Chief Executive Officer of Oracle Financial Services Software, stated, “We are witnessing a paradigm shift in the global financial industry, with increased demand for cloud products.”
Our continuing rise in license and cloud registrations is due to our products’ demonstrated ability to deliver end-to-end solutions that suit clients’ business demands and provide them with a competitive advantage. This quarter, we achieved double-digit year-over-year growth, with sales up 16% and net income up 38%.

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