Oracle Financial Services hits 52-week high, extend gain for second straight day; check details

The stock had also hit a record high of ₹10,709.95 apiece on the NSE on Friday. Shares of the IT solutions provider for the financial services sector rallied over 5% to hit a fresh year-high level from its previous close of ₹10,151.95 per share.

Oracle Financial Services Software stock has surged nearly 183% in the last one year. Shares of Oracle Financial Services Software have gained 124% returns in the past six months and nearly 13% in the last one month. In the past five sessions the stock has jumped 4.97%.

Last week, on July 10, the company informed the stock exchanges in a filing that a meeting of its Employee Stock Ownership Plan (ESOP) Allotment Committee is scheduled to be held on Wednesday, July 17, 2024. The software solutions provider said that its board will consider allotting shares to eligible employees who have chosen to exercise their options under the company's existing ESOP schemes.

Oracle Financial Services Software’s consolidated revenue from operations for the quarter ended March 31, 2024 grew over 11% to ₹1,642.4 crore compared to ₹1,470.5 crore in the same quarter of the preceding fiscal. The company’s revenue from operations for the full fiscal ended March 31, 2024 increased nearly 12% to ₹6,373 crore compared to ₹5,698.3 crore in FY23.

The IT solutions provider’s net profit for Q4FY24 jumped nearly 17% to ₹560.12 crore compared to ₹479.3 crore in Q4FY23. The company’s net profit for FY24 grew 23% to ₹2,219.4 crore compared to ₹1,806.1 crore in FY23.

Oracle Financial Services Software Limited is a subsidiary of American multinational Oracle Corporation. It operates as an IT solution provider to the banking and financial services industry. The company claims to have over 900 customers in 145 countries.

Shares of Oracle Financial Services Software closed at ₹10,925 per piece, up 3.49%, on the NSE.