OFSS hits new high

Oracle Financial Services Software (OFSS) is the top gainer on the BSE since the opening bell today morning; from its close of Rs.5087.40 it opened at Rs.5596.10 and went on to hit a new 52-week high at Rs.6104.85, up 20%, its UC of the day.

The stock price hit a new high on the back of its very good numbers – its consolidated revenue for the quarter rose 26% (YoY) at Rs.1824 crore while net profit jumped by a big 69% to Rs.741 crore.

Its operating margin came in at 46.1% v/s 40.6%.

The company’s license fees signings were $49.5 million across its product lines for both Cloud/SaaS and on-premises deployment modes. For the nine months ended December 2023, license signings were $117.4 million, up 76%(YOY).

OFSS provides products and services to the financial services industry and is a majority owned subsidiary of Oracle Corporation.