For the three months ended 31 December 2023, the Products business posted a revenue of Rs 1,680 crore, up 29% year-over-year, and operating income of Rs 867 crore, up 41% year-over-year. For the same period, the Services business posted a revenue of Rs 144 crore, down 2% year-over-year, and the operating income of Rs 37 crore, up 28% year-over-year.

The company signed license fees of $49.5 million during the quarter with customers in 37 countries.

Makarand Padalkar, managing director and chief executive officer, Oracle Financial Services Software, said, "The results demonstrate our strength in all aspects. For the quarter, we posted strong growth in revenue and profits. Our license fees signings were US$ 49.5 million across our product lines for both Cloud/SaaS and on-premises deployment modes. For the nine months ended December 2023, our license signings were US$ 117.4 million, 76% higher than the corresponding period last fiscal. We signed a landmark cloud deal with Navy Federal Credit Union, USA during the previous quarter, and we continue to see a robust deal pipeline across all the regions as we continue to serve the market with our product portfolio."

Avadhut Ketkar, chief financial officer, Oracle Financial Services Software, said, "Our margins were strong this quarter with the operating margin at 46.1% and net margin at 40.6%. For the nine months ended December 31, 2023, we posted a 13% increase in the operating income and a 25% increase in the net income compared to the corresponding period of the last financial year."

Oracle Financial Services Software is a world leader in providing products and services to the financial services industry and is a majority owned subsidiary of Oracle Corporation.