Oracle Financial Services Software Reports Q3 Fiscal Year 2020 Net Income of Rs. 457 Crore up 27 %

Oracle Financial Services Software Reports Q3 Fiscal Year 2020 Net Income of Rs. 457 Crore up 27 %

 

Oracle Financial Services Software Reports Q3 Fiscal Year 2020 Net Income of Rs. 457 Crore up 27 % Quarter over Quarter and up 49 % Year over Year Revenue for the Quarter at Rs. 1,160 Crore, down 2 Year over Year

Oracle Financial Services Software Limited , a majority owned subsidiary of Oracle, today announced results for th e quarter ended December 31 , 2019 . On a consolidated basis, n et income for the quarter was Rs. 457 Crore, up 49 % compared to the quarter ended December 31 , 201 8. Revenue for the quarter was Rs. 1,160 Crore, down 2 % as compared to quarter ended December 31 , 2018 .

The operating income for the quarter was Rs. 497 Crore, up 2 % compared to the quarter ended December 31 , 2018 For the quarter ended December 31 , 2019 , the Products business posted revenue of Rs. 1,028 Crore,
down 1 % year over year; and the o perating m argin was Rs. 494 Crore, down 1 as compared to the
corresponding quarter of the last fiscal year. For the same period, the Services business posted revenue
of Rs. 101 Crore, down 15 as compared to the same quarter of last fiscal year.

Chet Kamat, Managing Director and Chief Executive Officer, Oracle Financial Services Software said,
“We signed US$12 million of new license fees in the quarter representing strategic new logos across
the portfolio. The net income posted a robust 49% growth . We offer compelling solutions for financial
institutions across multiple regions and are a leading choice for them. With a robust pipeline, we see a
broad based demand for our product lines in both emerging and developed markets.”

Makarand Padalkar, Executive Director and Chief Financial Officer, Oracle Financial Services Software said, “ W e posted strong operating performance this quarter; the operating margins stood at 43% and net margins were 39%. All other operating parameters continue to be health y.”

Business Highlights

 The Company signed license deals of US 12 .2 m illion during this quarter with customers in 24 countries.
 27 customers went live on Oracle Financial Services software products during the quarter.
 A leading Dutch bank has chosen to implement Oracle Financial Services Analytical Applications by continu ing its belief in Oracle’s Banking Technology.


 Westlake Financial Services, a Southern California based finance company that specializes in Westlake Financial Services, a Southern California based finance company that specializes in acquisitiacquisition and servicing of prime to subprime automotive retail instalment contracts through a on and servicing of prime to subprime automotive retail instalment contracts through a network of over 50,000 new and used car dealerships throughout the United Statesnetwork of over 50,000 new and used car dealerships throughout the United States,, has extended has extended its relationship with Oracle by signing a deal for Oracle Financial Servicits relationship with Oracle by signing a deal for Oracle Financial Services Lending and Leasing es Lending and Leasing for servicing and collections for loans.for servicing and collections for loans.

 AA leading Canadian bank has extended its relationship with Oracle by signing a deal for Oracle leading Canadian bank has extended its relationship with Oracle by signing a deal for Oracle Financial Services  Analytical Applications.Financial Services Analytical Applications.

 A leading Saudi Arabian general insurance company A leading Saudi Arabian general insurance company has chosen to implement Oracle Financial has chosen to implement Oracle Financial Services Analytical Applications.Services Analytical Applications.

 A leading Japanese financial services company has chosen to implement Oracle Financial Services A leading Japanese financial services company has chosen to implement Oracle Financial Services Analytical Applications.Analytical Applications.

 Cooperativa de Ahorro y Crédito de la Comunidad de Ciudad Cooperativa de Ahorro y Crédito de la Comunidad de Ciudad Quesada RL (COOCIQUE)Quesada RL (COOCIQUE),, a Costa a Costa Rican savings and credit cooperative with more than 100,000 members that offers assistance to Rican savings and credit cooperative with more than 100,000 members that offers assistance to micro and small entrepreneurs and farmersmicro and small entrepreneurs and farmers,, has chosen to implement Oracle FLEXCUBE Universal has chosen to implement Oracle FLEXCUBE Universal Banking and Oracle Banking Digital ExpBanking and Oracle Banking Digital Experience.erience.

 Incorporated in 1985, Balad Bank in Sudan focuses on providing Islamic banking and investment Incorporated in 1985, Balad Bank in Sudan focuses on providing Islamic banking and investment services in the country with a keen interest in improving the country’s agricultural, commercial, services in the country with a keen interest in improving the country’s agricultural, commercial, mining and real estate sectorsmining and real estate sectors. According to . According to their their stratstrategic planegic plan,, they plan to expand inthey plan to expand in Africa and Africa and Middle East. The bank has signed a deal for Oracle FLEXCUBE Universal Banking, Oracle Middle East. The bank has signed a deal for Oracle FLEXCUBE Universal Banking, Oracle Banking Digital ExperiencBanking Digital Experience and Oracle Banking Payments.e and Oracle Banking Payments.

 Dashen Bank, an emerging Ethiopian commercial bank offering modDashen Bank, an emerging Ethiopian commercial bank offering modern banking servicesern banking services,, has has extended its relationship with Oracle by signing a deal for Oracle FLEXCUBE Universal Banking.extended its relationship with Oracle by signing a deal for Oracle FLEXCUBE Universal Banking.

 AAnn Islamic commercial bank Islamic commercial bank in Asia in Asia has reaffirmed its trust in Oracle by signinghas reaffirmed its trust in Oracle by signing a deal for Oracle a deal for Oracle Banking Digital Experience, Oracle Banking APIs, Oracle Banking Supply Chain Finance and Banking Digital Experience, Oracle Banking APIs, Oracle Banking Supply Chain Finance and Oracle BanOracle Banking Virtual Accounts Management. king Virtual Accounts Management.

 A commercial bank from Mauritius has furthered its belief in Oracle by signing a deal for Oracle A commercial bank from Mauritius has furthered its belief in Oracle by signing a deal for Oracle Banking Corporate Lending, Oracle Banking Payments, Oracle Banking APIs and Oracle Banking Corporate Lending, Oracle Banking Payments, Oracle Banking APIs and Oracle FLEXCUBE Universal banking.FLEXCUBE Universal banking.

 A leading Chilean bank has A leading Chilean bank has extended its relationship with Oracle by signing a deal for Oracle extended its relationship with Oracle by signing a deal for Oracle FLEXCUBE Universal Banking.FLEXCUBE Universal Banking.

 A leading Costa Rican financial services group has signed a deal with Oracle to implement Oracle A leading Costa Rican financial services group has signed a deal with Oracle to implement Oracle FLEXCUBE, Oracle Banking Digital Experience, Oracle Banking PayFLEXCUBE, Oracle Banking Digital Experience, Oracle Banking Payments and Oracle Banking ments and Oracle Banking Corporate Lending. Corporate Lending.

Oracle Financial Services Software Reports Q3 Fiscal Year 2020 Net Income of Rs. 457 Crore up 27 %

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