Shares of Oracle Financial Services Software Ltd (OFSS) were in the news on Monday, July 15, as the stock rallied nearly 6% to hit a new 52-week high of ₹ 11,169 on the NSE, extending its gains for the second consecutive day.
The stock had also hit a record high of ₹ 10,709.95 on the NSE on Friday. Shares of the IT solutions provider for the financial services sector rallied over 5% to hit a new year high from its previous close of ₹ 10,151.95 per share.
Oracle Financial Services hits 52-week High
Oracle Financial Services Software stock has rallied nearly 183% in the last year. Oracle Financial Services Software shares have rallied 124% in the last six months and nearly 13% in the last month. The stock has rallied 4.97% in the last five sessions.
Last week, on July 10, the company informed the stock exchanges in a filing that its Employee Stock Ownership Plan (ESOP) allocation committee meeting is scheduled to be held on Wednesday, July 17, 2024.
The software solutions provider said its board will consider allotment of shares to eligible employees who have chosen to exercise their options under the company’s existing ESOP plans.
Continues Gains for Second Consecutive Day
Oracle Financial Services Software’s consolidated revenue from operations for the quarter ended March 31, 2024 grew 11% to ₹1,642.4 crore as against ₹1,470.5 crore in the same quarter of the previous fiscal.
The company’s revenue from operations for the full fiscal year ended March 31, 2024 grew nearly 12% to ₹6,373 crore as compared to ₹5,698.3 crore in FY23.
The IT solutions provider’s net profit for Q4FY24 grew nearly 17% to ₹560.12 crore as compared to ₹479.3 crore in Q4FY23. The company’s net profit for FY24 grew 23% to ₹2,219.4 crore as compared to ₹1,806.1 crore in FY23.
Shares of OFSS
Oracle Financial Services Software Limited is a subsidiary of the American multinational company Oracle Corporation.
It operates as an IT solutions provider for 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 share, up 3.49% on the NSE.