Consolidated Quarterly Result QoQ comparison
Net sales (including other operating income) of Oracle Financial Services Software has declined 1.14% to Rs 1266.33 crore.
Operating profit margin has declined from 49.15% to 46.18%, leading to 7.11% decline in operating profit to Rs 584.78 crore. Employee cost increased from 46.25% to 46.93%. Other expenses rose from 4.61% to 6.89%. Selling and administration expenses rose from 2.98% to 4.08%. Other direct service cost rose from 1.62% to 2.81%.
Other income rose 34.36% to Rs 35.66 crore. PBIDT fell 5.23% to Rs 617.18 crore. Provision for interest fell 32.64% to Rs 3.26 crore.
PBDT fell 5.23% to Rs 617.18 crore. Provision for depreciation fell 3.85% to Rs 23.75 crore.
Profit before tax down 5.29% to Rs 593.43 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 158.09 crore, compared to Rs 179.01 crore. Effective tax rate was 26.64% compared to 28.57%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 2.73% to Rs 435.34 crore.
Promoters stake was 73.12% as of 31 December 2021 ,compared to 73.15% as of 30 September 2021 .
Consolidated Quarterly Result YoY comparison
Net sales (including other operating income) of Oracle Financial Services Software has increased 2.25% to Rs 1266.33 crore. Sales of Product license and related activities segment has gone up 2.98% to Rs 1,134.19 crore (accounting for 89.57% of total sales). Sales of IT Solutions and Consulting services segment has gone up 30.02% to Rs 132.14 crore (accounting for 10.43% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has slumped 4.31% to Rs 615.26 crore. PBIT of Product license and related activities segment fell 3.83% to Rs 582.76 crore (accounting for 94.72% of total PBIT). PBIT of IT Solutions and Consulting services segment rose 58.43% to Rs 32.50 crore (accounting for 5.28% of total PBIT).
PBIT margin of Product license and related activities segment fell from 55.02% to 51.38%. PBIT margin of IT Solutions and Consulting services segment rose from 20.19% to 24.60%. Overall PBIT margin fell from 51.92% to 48.59%.
Operating profit margin has declined from 49.35% to 46.18%, leading to 4.32% decline in operating profit to Rs 584.78 crore. Employee cost increased from 43.43% to 46.93%. Other expenses fell from 7.22% to 6.89%. Selling and administration expenses fell from 4.32% to 4.08%. Other direct service cost fell from 2.91% to 2.81%.
Other income rose 57.30% to Rs 35.66 crore. PBIDT fell 2.12% to Rs 620.44 crore. Provision for interest fell 34.41% to Rs 3.26 crore.
PBDT fell 1.86% to Rs 617.18 crore. Provision for depreciation fell 9.39% to Rs 23.75 crore.
Profit before tax down 1.53% to Rs 593.43 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 158.09 crore, compared to Rs 172.99 crore. Effective tax rate was 26.64% compared to 28.70%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 1.32% to Rs 435.34 crore.
Promoters stake was 73.12% as of 31 December 2021 ,compared to 73.28% as of 31 December 2020 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Oracle Financial Services Software has increased 4.55% to Rs 3944.68 crore. Sales of Product license and related activities segment has gone up 5.57% to Rs 3,538.02 crore (accounting for 89.69% of total sales). Sales of IT Solutions and Consulting services segment has gone up 26.61% to Rs 406.66 crore (accounting for 10.31% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 4.74% to Rs 2,018.07 crore. PBIT of Product license and related activities segment rose 4.77% to Rs 1,910.73 crore (accounting for 94.68% of total PBIT). PBIT of IT Solutions and Consulting services segment rose 77.25% to Rs 107.33 crore (accounting for 5.32% of total PBIT).
PBIT margin of Product license and related activities segment fell from 54.42% to 54.01%. PBIT margin of IT Solutions and Consulting services segment rose from 18.85% to 26.39%. Overall PBIT margin rose from 51.07% to 51.16%.
Operating profit margin has declined from 49.80% to 49.36%, leading to 3.61% rise in operating profit to Rs 1,946.93 crore. Employee cost increased from 43.46% to 44.64%. Other expenses fell from 6.73% to 6.00%. Selling and administration expenses fell from 4.43% to 3.54%. Other direct service cost rose from 2.30% to 2.46%.
Other income rose 4.73% to Rs 92.27 crore. PBIDT rose 3.66% to Rs 2039.2 crore. Provision for interest fell 46.77% to Rs 7.75 crore.
PBDT rose 4.04% to Rs 2031.45 crore. Provision for depreciation fell 8.79% to Rs 72.99 crore.
Profit before tax grew 4.58% to Rs 1,958.46 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 551.38 crore, compared to Rs 571.07 crore. Effective tax rate was 28.15% compared to 30.50%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 8.11% to Rs 1,407.08 crore.
Promoters stake was 73.12% as of 31 December 2021 ,compared to 73.28% as of 31 December 2020 .
Management Comment:
Commenting on the performance, Chet Kamat, Managing Director and Chief Executive Officer, Oracle Financial Services Software said, Continuing our business momentum, we signed license deals of $15.6 million in the quarter taking the cumulative license signings for the nine months ended December 2021 to $75.3 million, up 21% higher than the corresponding period last fiscal. Our Products and solutions help financial institutions in their transformation initiatives, while dealing with digital disruption, migration of cloud and regulatory demands.
Makarand Padalkar, Executive Director and Chief Financial Officer, Oracle Financial Services Software said, We continued to deliver strong performance on every business metric. On a year-to-date basis, revenue grew 5% and net income rose 8%, with net margin of 36%.
Oracle Financial Services Software: Consolidated Financial Results
| 2112 (3) | 2109 (3) | Var. (%) | 2012 (3) | Var. (%) | 2112 (9) | 2012 (9) | Var. (%) | 2103 (12) | 2003 (12) | Var. (%) | |
| Sales | 1266.33 | 1280.97 | -1 | 1238.42 | 2 | 3944.68 | 3773.07 | 4.55 | 4983.94 | 4861.28 | 3 |
| OPM (%) | 46.2 | 49.1 | -297 bps | 49.4 | 317 bps | 49.4 | 49.8 | 49.5 | 45.8 | ||
| OP | 584.78 | 629.55 | -7 | 611.18 | -4 | 1946.92 | 1879.09 | 3.61 | 2468.61 | 2228.69 | 11 |
| Other inc. | 35.66 | 26.54 | 34 | 22.67 | 57 | 92.27 | 88.10 | 4.74 | 131.97 | 177.34 | -26 |
| PBIDT | 620.44 | 656.09 | -5 | 633.84 | -2 | 2039.19 | 1967.19 | 3.66 | 2600.57 | 2406.03 | 8 |
| Interest | 3.26 | 4.84 | -33 | 4.97 | -34 | 7.75 | 14.56 | -46.81 | 19.13 | 47.37 | -60 |
| PBDT | 617.19 | 651.25 | -5 | 628.87 | -2 | 2031.44 | 1952.63 | 4.04 | 2581.44 | 2358.66 | 9 |
| Dep. | 23.75 | 24.70 | -4 | 26.21 | -9 | 72.99 | 80.02 | -8.79 | 104.11 | 106.38 | -2 |
| PBT | 593.44 | 626.56 | -5 | 602.67 | -2 | 1958.46 | 1872.61 | 4.58 | 2477.33 | 2252.28 | 10 |
| Tax | 158.09 | 179.01 | -12 | 172.99 | -9 | 551.38 | 571.07 | -3.45 | 715.48 | 790.06 | -9 |
| PAT | 435.34 | 447.55 | -3 | 429.68 | 1 | 1407.08 | 1301.54 | 8.11 | 1761.86 | 1462.22 | 20 |
| EPS (Rs)* | 202.3 | 208.0 | 199.7 | 218.6 | 201.6 | 204.7 | 169.9 | ||||
| * On current Paid up equity capital of Rs 43.031 crore, Face value Re 5 Figures in crore EO: Extraordinary items |
Oracle Financial Services Software: Consolidated Segment Results
| 2112 (3) | 2109 (3) | Var. (%) | 2012 (3) | Var. (%) | 2112 (9) | 2012 (9) | Var. (%) | 2103 (12) | 2003 (12) | Var. (%) | |
| Sales | |||||||||||
| Products Licenses and related activities | 1134.19 | 1144.28 | -0.9% | 1101.38 | 3.0% | 3538.02 | 3351.33 | 5.57% | 4425.170 | 4314.57 | 2.6 |
| IT Solutions and consulting Services | 132.14 | 136.69 | -3.3% | 137.04 | -3.6% | 406.66 | 421.74 | -3.58% | 558.767 | 546.71 | 2.2 |
| Total | 1266.33 | 1280.97 | -1.1% | 1238.42 | 2.3% | 3944.68 | 3773.07 | 4.55% | 4983.937 | 4861.28 | 2.5 |
| Segment Results | |||||||||||
| Products Licenses and related activities | 582.76 | 600.82 | -3.0% | 605.95 | -3.8% | 1910.73 | 1823.82 | 4.77% | 2382.09 | 2135.95 | 11.5 |
| IT Solutions and consulting Services | 32.50 | 35.75 | -9.1% | 37.03 | -12.2% | 107.33 | 102.97 | 4.24% | 147.25 | 116.61 | 26.3 |
| Total Segment Results | 615.26 | 636.57 | -3.3% | 642.98 | -4.3% | 2018.07 | 1926.79 | 4.74% | 2529.34 | 2252.56 | 12.3 |
| Add: Finance Income | 24.36 | 19.50 | 24.9% | 27.01 | -9.8% | 62.94 | 84.57 | -25.58% | 113.87 | 165.81 | -31.3 |
| Less: Other Unallocable (Expenses Net) | 46.19 | 29.51 | 56.5% | 67.32 | -31.4% | 122.55 | 138.75 | -11.68% | 165.88 | 166.09 | -0.1 |
| PBIT Margin | |||||||||||
| Products Licenses and related activities | 51.4% | 52.5% | 55.0% | 54.0% | 54.4% | 53.8% | 49.5% | ||||
| IT Solutions and consulting Services | 24.6% | 26.2% | 27.0% | 26.4% | 24.4% | 26.4% | 21.3% | ||||
| PBT | 593.44 | 626.56 | -5.3% | 602.67 | -1.5% | 1958.46 | 1872.61 | 4.58% | 2477.33 | 2252.28 | 10.0 |
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