MUMBAI -(Dow Jones)- Oracle Financial Services Software Ltd. (532466.BY), a unit of U.S.-based Oracle Corp. (ORCL), said its second quarter net profit more than doubled as costs reduced.
Net profit for the July-September period rose to INR2.05 billion from INR938.3 million a year earlier, the company said late Friday.
Total revenue fell 3% to INR6.79 billion from INR7.00 billion.
Total operating expenses were down 17% at INR4.93 billion from INR5.94 billion a year ago.
"We are continuing to invest in our infrastructure and local presence in newer territories," said Makarand Padalkar, chief financial officer.
Operating margin for the quarter was 27%, compared with 15% a year earlier.
Total staff strength in July-September was lower from the previous quarter by 493 people at 10,582.
-By Deepali Gupta, Dow Jones Newswires; 91 22 6145 6107; deepali.gupta@dowjones.com