New Delhi, Jul 25: i-flex Solutions, country's leading IT solutions company, posted 58.3 per cent increase in its net profit to Rs 92.18 crore for the quarter ended June 30, 2008 as compared to Rs 58.20 crore in the corresponding period last year.
Revenue for the firm, providing banking products, solutions and services was at Rs 631.8 crore for the quarter up 23 per cent from Rs 513.3 crore for the quarter ended June 30, 2007. ''We are pleased with the momentum we are seeing across our entire portfolio including new offerings such as Flexcube Private Banking. With our enhanced solution capability we are well poised to help our customers meet the demands of a complex, challenging and competitive environment,'' Managing Director and CEO, i-flex solutions, N R K Raman said.
For the first quarter the company signed license fee of 17 million dollar and added 14 clients. The services business also saw a good traction with i-flex winning some key engagements during the quarter.