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Oracle Financial Services Plunges 7%; BSE IT Index Down 4.5%
Mon, 5 Aug 11:26

Oracle Financial Services Plunges 7%; BSE IT Index Down 4.5%Image source: asbe/www.istockphoto.com

Oracle Financial Services share price has plunged 7% and is presently trading at Rs 9,650.0.

Meanwhile, the BSE IT index is at 38,800.8 (down 4.5%).

Among the top losers in the BSE IT index today are Birlasoft (down 7.9%) and Firstsource Solutions (down 7.4%).

Over the last one year, Oracle Financial Services has moved up from Rs 3,868.8 to Rs 9,650.0, registering a gain of Rs 5,781.3 (up 149.4%).

On the other hand, the BSE IT index has moved up from 30,586.1 to 38,800.8, registering a gain of 26.9% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 149.4%), INFIBEAM AVENUES (up 110.7%) and Firstsource Solutions (up 87.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 78,523.1 (down 3.0%).

The top losers among the BSE Sensex today are Tata Motors (down 6.4%) and Tata Steel (down 5.1%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 23,914.3 (down 3.3%). Tata Motors and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 78,523.1, registering a gain of 12,063.8 points (up 18.2%).

Oracle Financial Services Financial Update...

Oracle Financial Services net profit grew 23.1% YoY to Rs 6,167 million for the quarter ended June 2024, compared to a profit of Rs 5,010 million a year ago. Net sales rose 19.1% to Rs 17,414 million during the period as against Rs 14,624 million in April-June 2023.

For the year ended March 2024, Oracle Financial Services reported 22.9% increase in net profit to Rs 22,194 million compared to net profit of Rs 18,061 million during FY23. Revenue of the company grew 11.8% to Rs 63,730 million during FY24.

The current Price to earnings ratio of Oracle Financial Services, based on rolling 12 month earnings, stands at 35.8.


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