IT Consulting & Software company Oracle Financial Services Software announced Q2FY24 results: 1. Financial Results: - Consolidated revenue for the quarter: Rs 1,445 crore, up 5% YoY. - Net income for the quarter: Rs 417 crore, up 5% YoY. - Operating income for the quarter: Rs 531 crore, down 2% YoY. 2. Products Business: - Revenue for the quarter: Rs 1,298 crore, up 6% YoY. - Operating income for the quarter: Rs 553 crore, equal to the previous year. 3. Services Business: - Revenue for the quarter: Rs 147 crore, down 2% YoY. - Operating income for the quarter: Rs 33 crore, down 17% YoY. 4. Customer Wins and Extensions: - Westlake Financial extended its relationship with Oracle for Oracle Financial Services Lending and Leasing. - Symbiotics Investments SA chose Oracle Banking Cloud Services for Corporate Lending and Treasury Management. - Tanner Servicios Financieros S.A. implemented Oracle's core banking and lending applications. - LAPO Microfinance Bank reinvested in Oracle's banking technology. - A US-based bank signed a deal for Oracle Financial Services Analytical Applications. Makarand Padalkar, Managing Director and Chief Executive Officer, Oracle Financial Services Software, said, “I am delighted to take over the position of the Managing Director & CEO of this great company and look forward to continuing corporate success. We had strong license wins in the quarter of USD 40.5 million driven by marquee cloud wins. And we have a robust deal pipeline across our portfolio.” Avadhut Ketkar, Chief Financial Officer, Oracle Financial Services Software, said, “I am excited to become the Chief Financial Officer of the Company. The Company maintained consistency in its performance this quarter with an operating margin of 36.8% and a net margin of 28.9%. The accounts receivables are healthy, with the Days of Sales Outstanding (DSO) of 61 days.” Result PDF