OFSS Q4 PAT up 7% QoQ

On a consolidated basis, Oracle Financial Services Software (OFSS) reported 7.1% rise in net profit to Rs 460.31 crore on 2.2% fall in net sales to Rs 1210.86 crore in Q4 FY21 over Q3 FY21.

Profit before tax in Q4 FY21 stood at Rs 604.72 crore, up by 0.3% from Rs 602.67 crore in Q3 FY21.

On a consolidated basis, net income for fiscal year 2021 was Rs 1,762 crore, up 20% compared to fiscal year 2020. Revenue for fiscal year 2021 was Rs 4,984 crore, up 3% compared to fiscal year 2020. Operating income for fiscal year 2021 was Rs. 2,345 crore, up 13% compared to fiscal year 2020.

For the full year ended 31 March 2021, the products business posted revenue of Rs 4,425 crore, up 3% compared to fiscal year 2020, and operating income of Rs 2,382 crore, up 12% year-over-year. For the same period, the services business posted revenue of Rs 423 crore, down 1% year-over-year, and the operating income of Rs 88 crore, up 13% year-over-year.

The board of directors of the company has declared an interim dividend of Rs 200 per equity share for the financial year 2020-21. At yesterday's closing price of Rs 3543.55 per share, this translates to a dividend yield of 5.6%.

Chet Kamat, managing director and chief executive officer, OFSS, said, "Our investments in the product portfolio has helped us build a strong pipeline. We signed $14.7 million of new license fees in the quarter, representing strategic new logos across the portfolio. Despite the uncertain business environment, we continue to see broad-based demand for our product lines from both emerging and developed markets."

Makarand Padalkar, executive director and chief financial officer, OFSS, added: "We maintained our track record of delivering strong operating performance. For the fiscal year ended March 2021, we posted an operating margin of 47% as compared to 43% for fiscal year ended March 2020."

OFSS is a world leader in providing products and services to the financial services industry and is a majority owned subsidiary of Oracle Corporation.

The OFSS scrip shed 0.31% to currently trade at Rs 3532.65 on the BSE.

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