Oracle Q1 net profit falls 16.50 per cent to Rs 329.33 crore

IT firm Oracle Financial Services Software on Thursday reported a decline of 16.50 per cent in its consolidated net profit at Rs 329.33 crore for the first quarter ended June 30, 2015.

The company had posted a net profit of Rs 394.43 crore for the same period of previous fiscal, Oracle Financial Services said in a filing to the BSE.

Its total income from operation, on a consolidated basis, also declined 1.53 per cent to Rs 1,056.56 crore during the April-June quarter as against Rs 1,072.98 crore in the corresponding year-ago period.

"We maintained a strong winning momentum to sign deals across all our product lines across the globe. For the quarter ended June 2015, we signed new licences of $25 million.

"Our product capability offers customers multiple deployment choices thereby giving them the competitive edge," said Oracle Financial Services Software Managing Director and CEO Chet Kamat.

Shares of the company on Thursday settled at Rs 4,212.15 apiece on the BSE, down 0.72 per cent from its previous close.