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Oracle Financial Q1 net income up 76 percent

By SiliconIndia  |   Thursday, 30 July 2009, 04:18 Hrs
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Bangalore: Oracle Financial Services Software, a subsidiary of database software major Oracle announced that its net income for the first quarter of fiscal year 2010 was 186 crores up by 76 percent compared to the same period last year. The company posted revenue of 710 crores, up by 12 percent year-on-year.

The operating income of Oracle Financial was 223 crores, an increase of 304 percent compared to the same quarter last year. "We are pleased to open fiscal year 2010 on a positive note, with product business revenues of 442 crores, an increase of 22 percent compared to the same quarter last year," said NRK Raman, Managing Director and CEO, Oracle Financial.

The company's operating margins for products business increased to 41 percent, from 19 percent during the same period last year. The services business operating margins of the firm increased to 25 percent from 11 percent last year.

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