Oracle Fin slumps over 2%

Oracle Financial Services was down over 2%  at Rs.2896.95, with an intra day low at Rs.2805. Volumes are also up over 10 times from 2900 shares to around 22,000 shares today.

The stock has tanked following a poor performance as it posted a consolidated net profit at Rs.366 crore, down 1% and this was on a 5% decline in revenue at Rs.899 crore. In terms of segment breakup, products was down 3%, services fell 11% and BPO services declined 1%.  But sequentially, the performance was much better as consolidated revenue was up 2% and net profit was up 30% and it is services which helped boost these numbers.