i-flex Solutions flexes its muscles post earnings

i-flex Solutions advanced 3.70% to Rs 1395 at 9:56 IST on BSE after the company posted 15.85% rise in net profit to Rs 410.88 crore in the year ended March 2008 over the year ended March 2007.

The stock hit a high of Rs 1402 and a low of Rs 1360 so far during the day. The stock had a 52-week high of Rs 2630 on 2 July 2007 and a 52-week low of Rs 892 on 24 March 2008.

The mid-cap scrip had outperformed the market over the past one month till 5 May 2008, gaining 39.82% compared to the Sensex’s return of 14%. It had also outperformed the market in the past one quarter, rising 22.20% compared to Sensex’s decline of 6.28%.

The company’s current equity is Rs 41.87 crore. Face value per share is Rs 5.

The current price of Rs 1395 discounts its Q3 December 2007 annualised EPS of Rs 52.92, by a PE multiple of 26.36.

i-flex Solutions’ total income rose 15.50% to Rs 1792.97 crore in the year ended March 2008 over the year ended March 2007.

In April 2008, i-flex said Israel Discount Bank, one of the leading financial groups in Israel selected Flexcube, its core-banking platform for its UK operations.

In March 2008, i-flex said Lien Viet Bank, Vietnam selected Flexcube, its core banking solution for its banking operations.

On 22 February 2008, Vietnam's FPT bank selected i-flex’s universal banking solution Flexcube for retail and corporate banking operations in Vietnam.

On 19 February 2008, i-flex said OTP Bank, Hungary's largest retail bank, selected its banking solution Flexcube for its retail, lending and corporate banking businesses.

The company provides information technology solutions to the financial service industry worldwide