Oracle Financial Q1 net up 4% at Rs 193 cr

IT solutions provider Oracle Financial Services Software today released its first quarter results with a consolidated net profit that rose by 4.09 per cent to Rs 193 crore for the quarter ended June 30, 2010.

Total income declined to Rs 650 crore during the April-June quarter, from Rs 710 crore in the same period last year, Oracle Financial said in a filing to the Bombay Stock Exchange.

"We continue to focus on margins and efficiencies, while investing in our various product lines and infrastructure for future growth," Oracle Financial Services Software CFO Makarand Padalkar said.

On standalone basis, the company reported a net profit of Rs 173 crore, up 14.25 per cent over the same period last year.

During the quarter, the company added 11 customers and six new customer projects went live, the filing added.

Shares of Oracle Financial Services Software were trading at Rs 2,155 on the BSE, down 1.21 per cent from the previous close.