Oracle Financial FY11 net up 43% to Rs 1,111 cr

Oracle Financial Services Software today reported a 43.60% jump in consolidated net profit to Rs 1,111 crore for the year ended March 31, 2011.

The company had posted a net profit of Rs 773.65 crore for the same period last year, Oracle Financial said in a filing to the Bombay Stock Exchange (BSE).

Consolidated revenue for the full year rose to Rs 2,996.93 crore from Rs 2,873.97 crore in the fiscal ended March, 2010.

On a standalone basis, the IT solution provider's net profit increased to Rs 967.98 crore for the 2010-11 financial year from Rs 660.84 crore in the previous year.

For the quarter ended March, 2011, the company's net profit was Rs 372 crore.

Commenting on the results, Oracle Financial Services Software CEO & MD Chet Kamat said, "For the quarter ended March, 2011, we signed new licenses of $39 million, registering 29% year-over-year growth."

The board of directors of the company did not recommend any dividend on equity shares for the financial year ended March 31, 2011.

Boosted by the strong numbers, shares of the company were trading at Rs 2,177, up 10.44% from the previous close on the BSE.