Oracle Financial Services - Rerating On The Cards: Dolat Capital
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Dolat Capital Report
Oracle Financial Services Software Ltd. reported in-line revenue growth of 4.5% YoY at Rs 13.9 billion (our estimate - Rs 14 billion).
However, operating profit margin gains extended further by 105 basis points YoY to 50.7% (best ever), driving earnings beat profit after tax stood at Rs 5.2 billion (our estimate Rs 5 billion).
Oracle Financial Services Software signed record new licenses worth $37.6 million (up 27% YoY - second largest signings in a quarter ever) well ahead of our estimate of $33 million (up 10% on trailing twelve months basis at $84.8 million) as it signed 16 new deals across markets and product offerings.
Added six deals in developed markets and also witnessed 11 customers go-lives in the quarter.
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