i-flex Q1 posts impressive gains

BANGALORE: i-flex Solutions Ltd has posted a whooping 345.48 per cent

increase in its net profit to Rs 35.55 crore for the quarter ended June 30, 2006

from Rs 7.98 crore for the quarter ended June 30, 2005.






Revenue has increased from Rs 211.25 crore for the quarter ended June 30, 2005
to Rs 308.39 crore for the quarter ended June 30, 2006 registering 46 per cent

growth.






The group has posted a net income of Rs 35.10 crore for the quarter ended June
30, 2006 as compared to Rs 15.20 crore, with a growth of 131 percent for the

quarter ended June 30, 2005. Revenues has increased from Rs 273.90 crore for the

quarter ended June 30, 2005 to Rs 403.30 crore for the quarter ended June 30,

2006 showing a growth of 47.24 per cent.






Speaking on the occasion, Rajesh Hukku, chairman and managing director said,
"Our comprehensive solutions portfolio is helping financial institutions

worldwide gain leadership in their business. We are delighted with the top

ratings that the industry analysts such as Gartner, Forrester and Celent have

given to FLEXCUBE and REVELEUS in the recent past; and a consistent streak of

top tier wins for our products and services in the US, Europe and Japan."






Further the Company has informed that, the Board has allotted 28,969 ESOP equity
shares of face value of Rs 5 each to the applicant employees / Director of the

company.