New Delhi: i-flex Solutions has posted a topline growth of 23% with revenues for the quarter ended June 2008 at Rs631.8 crore as compared to Rs513.3 crore for the corresponding quarter during the previous year.
The net income during Q1Fy09 stood at Rs106 crore as compared to Rs37 crore in the corresponding quarter in the previous year.
“During the first quarter of the year we continued our close relationship with Oracle to help extend our scale, global reach, and operational efficiencies,” said Makarand Padalkar, CFO, i-flex solutions.
The company signed new license fee of $17 million in the quarter and added 14 new customers. It also signed two Tier 1 banks — one for risk/compliance solutions and the other for core banking.
The board has also approved the change of name to “Oracle Financial Services Software Limited” for which shareholder approval will be sought at an EGM on August 11, 2008.