Infosys Finacle Q3 sales up 66% at $81.8 mn

Finacle, the banking product division of Infosys Technologies, recorded 66 per cent jump in turnover to $81.8 million (about Rs 365 crore) for the third quarter ended December 31, 2010.

"The topline (during the quarter) grew by 66 per cent on annual basis while on sequential basis it was 28.8 per cent," said Haragopal M, global head, Finacle.

The company's topline during the second quarter of the current fiscal was $63.5 million.

For the nine months ended December 2010, the division has clocked a turnover of $209.5 million, against $142 million in the same period last fiscal, up 47 per cent.

"Our nine-month topline is $1.5 million higher than what we achieved in the entire (fiscal) 2009-10," he said.

In 2009-10, Finacle clocked a turnover of $208 million.

Giving details of the business, Haragopal said, as many as 23 deals were signed during April-December, 2010-11.

At the same time, he said, 44 banks and financial institutions across the globe have implemented its product during the period.

Finacle, with over 135 clients across 65 countries, rolled out a new product-Mobile Banking 2.0 solution in the third quarter.