Oracle Financial Services Software Ltd. on Wednesday reported a 10.17% sequential rise in net profit for the first quarter of this financial year, beating analysts' estimates.
The software and hardware company recorded a net profit of Rs 617 crore for the quarter-ended June, as compared to Rs 560 crore in the previous quarter, according to its stock exchange notification. Analysts tracked by Bloomberg had estimated a net profit of Rs 569 crore.
Revenue increased by 6.02% quarter-on-quarter for the three months ended June, reaching Rs 1,741 crore. Analysts had projected the revenue at Rs 1,665 crore.
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Operating income—or earnings before interest, and taxes—rose 15.75% quarter-on-quarter to Rs 828.7 crore. The EBIT margin expanded to 47.59% from 43.59% in the previous quarter. Analyst estimates for EBIT and EBIT margin tracked by Bloomberg were Rs 712 crore and 42.80%, respectively.
Shares of the company closed 1.45% lower at Rs 11,150 apiece, as compared to a 0.16% decline in the NSE Nifty 50. The stock has risen 156.02% year-to-date and 188.47% over the past 12 months.
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