Oracle Financial Services Q4 Revenue Rises 12% to ₹6,373 Crore

Oracle Financial Services reported strong Q4 and FY2024 results, with 12% revenue growth, 23% net income rise, and 43.7% license fee growth, reflecting the company's industry-leading products and services for financial institutions' digital transformation.

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Dil Bar Irshad
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Oracle Financial Services Q4 Revenue Rises 12% to ₹6,373 Crore

Oracle Financial Services Q4 Revenue Rises 12% to ₹6,373 Crore

Oracle Financial Services Software Limited (OFSS) reported strong financial results for the fourth quarter and fiscal year ended March 31, 2024. The company's consolidated revenue for Q4 FY2024 increased by 12% year-over-year to ₹1,642 crore, driven by growth in both its products and services businesses.

The products business posted revenue of ₹1,491 crore, up 12% compared to the same quarter last year. The services business also witnessed robust growth, with revenue rising 13% year-over-year to ₹151 crore. Operating income for the quarter stood at ₹703 crore, a 13% increase from the previous year, while net income rose 17% to ₹560 crore.

For the full fiscal year 2024, OFSS recorded a 12% year-over-year revenue growth on a consolidated basis, reaching ₹6,373 crore. Operating income for the year increased by 13% to ₹2,680 crore, and net income rose 23% to ₹2,219 crore. The company signed license fees of US$ 137.3 million across its entire range of products during FY2024, registering an impressive 43.7% growth over the previous fiscal year.

Why this matters: Oracle Financial Services' strong financial performance reflects the continued importance and relevance of its product offerings to global financial institutions. The company's solutions support innovation and digital transformation objectives in the financial services industry, making it a key player in the sector's technological advancement.

Avadhut Ketkar, Chief Financial Officer of OFSS, stated, "We continued to deliver robust financial performance by offering industry-leading products and services to the financial services industry." The company's earnings per share (EPS) for Q4 FY2024 increased by 16.29% to ₹64.24, while EPS for the full fiscal year grew by 22.33% to ₹254.76. OFSS has approved an interim dividend of ₹240 per equity share for FY2024, with the record date fixed as May 7, 2024, and payment to be made on or before May 23, 2024.

Key Takeaways

  • OFSS reported 12% YoY revenue growth to ₹1,642 crore in Q4 FY2024.
  • Products business grew 12% YoY, services business grew 13% YoY in Q4 FY2024.
  • OFSS recorded 12% YoY revenue growth to ₹6,373 crore in FY2024.
  • Net income rose 23% to ₹2,219 crore, EPS grew 22.33% to ₹254.76 in FY2024.
  • OFSS approved an interim dividend of ₹240 per share for FY2024.