IT Consulting & Software company Oracle Financial Services Software announced Q3FY24 results: Financial Performance Summary: Total Consolidated Revenue: Recorded at Rs 1,824 crore, marking an increase of 26% YoY. Operating Income: Rs 840 crore, a significant growth of 45% compared to the previous year. Net Income: Achieved Rs 741 crore, which is an impressive growth of 69% YoY. Products Business Revenue: Total: Rs 1,680 crore, a 29% increase over the same period last year. Operating Income: Reached Rs 867 crore, up by 41% YoY. Services Business Revenue: Total: Was slightly down at Rs 144 crore, representing a slight decrease of 2%. Operating Income: Nonetheless, enjoyed an increase to Rs 37 crore, up 28% YoY. License Fee Signings: Totaled $49.5 million during the quarter across various product lines. Makarand Padalkar, Managing Director and Chief Executive Officer, Oracle Financial Services Software, said, “The results demonstrate our strength in all aspects. For the quarter, we posted strong growth in revenue and profits. Our license fee signings were US$ 49.5 million across our product lines for both Cloud/SaaS and on-premises deployment modes. For the nine months ended December 2023, our license signings were US$ 117.4 million, 76% higher than the corresponding period last fiscal. We signed a landmark cloud deal with Navy Federal Credit Union, USA during the previous quarter, and we continue to see a robust deal pipeline across all the regions as we continue to serve the market with our product portfolio.” Avadhut Ketkar, Chief Financial Officer, Oracle Financial Services Software, said, “Our margins were strong this quarter with the operating margin at 46.1% and net margin at 40.6%. For the nine months ended December 31, 2023, we posted a 13% increase in the operating income and a 25% increase in the net income compared to the corresponding period of the last financial year.” Result PDF