Oracle's financial arm earns Rs 204 cr profit in Q1

Mumbai: Profit of IT firm Oracle Financial Services Software shot up 5.53 percent. The IT firm reported today a rise in its net profit to Rs 204 crore for the quarter ended 30 June 2011. [caption id=“attachment_53154” align=“alignleft” width=“380” caption=“Shares of Oracle Financial Services were trading at Rs 2,115.10 on the BSE today. PIB”] [/caption] The company in a filing to the Bombay Stock Exchange had posted a net profit of Rs 193.3 crore for the same period of the previous fiscal. Total income of IT firm increased to Rs 712 crore during the April-June quarter of 2011, compared to Rs 650 crore in the corresponding year-ago period. Oracle Financial Services also expanded in the previous quarter; added 10 customers for its product business and seven customers for its services business. The company signed new licences worth $ 13 million during the quarter. On a standalone basis, the IT firm reported a net profit of Rs 172.6 crore for the June quarter, up 0.74 percent vis-a-vis the same period of the previous fiscal. Shares of Oracle Financial Services were trading at Rs 2,115.10 on the BSE today, down 1.23 percent. PTI