Infosys Finacle Q4 sales up 31 pc at $ 86.1 mn

NEW DELHI: Finacle, the banking product division of Infosys Technologies, recorded 31 per cent jump in turnover to $ 86.1 mn (about Rs 387 crore) for the fourth quarter ended March 31, 2011.

"The topline (during the quarter) rose to 86.1 mn against $ 65.6 mn," said Haragopal M, global head, Finacle.

For the entire 2010-11, the division has clocked sales of $ 295 mn, as against $ 208 mn in the previous fiscal, up 42.1 per cent.

During the year, the division made an investment of $ 75 mn in Research and Development.

Haragopal said the company signed 18 new deals during January-March, 2010-11. During the fiscal, there were 41 wins as compared to 31 in the last fiscal.

He said 48 banks and financial institutions across the globe have implemented Finacle during 2010-11.

Finacle, with over 140 clients across 73 countries, has rolled out three new products including Mobile Banking 2.0 solution and Finacle Lite.