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From the News Desk
Thursday, 31. August 2006
i-flex Q1 Profit Up Surges to 415 mln rupees
Banking software maker I-flex Solutions Ltd. has posted a higher first quarter net profit of 415 million rupees (USD 8.9 million), which jumped almost seven times from 58 million rupees reported a year ago. Revenue for the quarter ending June rose 51 percent to 4.08 billion rupees.
R. Ravisankar, CEO, Interntional Operations and Business Development said, "We now have the most comprehensive portfolio of solutions to help financial institutions meet the challenges of a highly competitive environment – and we
continue to see rapid growth across the entire portfolio."
I-flex, which gets more than half its revenue from Flexcube, a banking software product, said it was adding one or two top banks every quarter to its list of customers.
The company signed 22 new customers during the quarter, which the company said has not yet added into the revenue.
The company said it had gross addition of 553 employees in the quarter (excluding KPO business - Equinox), with the total staff strength increasing to 6484. The total staff strength of the group inclusive of KPO business increased to 7,101 – an increase of 29 percent over the period ended June 2005.
R. Ravisankar, CEO, Interntional Operations and Business Development said, "We now have the most comprehensive portfolio of solutions to help financial institutions meet the challenges of a highly competitive environment – and we
continue to see rapid growth across the entire portfolio."
I-flex, which gets more than half its revenue from Flexcube, a banking software product, said it was adding one or two top banks every quarter to its list of customers.
The company signed 22 new customers during the quarter, which the company said has not yet added into the revenue.
The company said it had gross addition of 553 employees in the quarter (excluding KPO business - Equinox), with the total staff strength increasing to 6484. The total staff strength of the group inclusive of KPO business increased to 7,101 – an increase of 29 percent over the period ended June 2005.
