Shares of Oracle Financial Services Software soared by 20% to a record high of ₹6,103.40, driven by robust performance in the third quarter of FY24.
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The company posted a remarkable 69% year-over-year surge in consolidated net profit, reaching ₹741 crore.
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In Q3 FY24, revenue from operations reached ₹1,824 crore, demonstrating a substantial 26% year-over-year growth.
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The quarter's operating profit reached ₹869 crore, indicating a significant 43% year-over-year rise.
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Product business revenue: ₹1,680 crore, up 29% YoY. Services business: ₹144 crore, down 2% YoY.
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During the quarter, customers from 37 countries signed license fees totaling $49.5 million.
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In the quarter, Oracle Financial Services Software products went live with nineteen customers.
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In the first nine months of FY24, consolidated net profit increased by 25% to ₹1,659 crore, while revenue from operations reached ₹4,730 crore.
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Oracle Financial Services Software's stock surged by 41% in the past five trading sessions and posted a remarkable 47% gain in January.
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The January performance surpasses the entire 2023 calendar year return of 39.34%. Impressive!
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