Oracle logs 50% growth in cloud consumption in India

NEW DELHI: Oracle on Tuesday said that it clocked 50 percent growth (year-on-year) in cloud consumption in India in the second quarter of FY24, as Cloud@Customer offering grew 380 per cent YoY in the same quarter.

The small and medium business (SMB) business has witnessed over 70 percent YoY consistent growth in consumption for the past three years, the company said during an event in Mumbai.

“Fusion applications saw a double-digit growth in the first half of FY24. Within software-as-a-service (SaaS), the ERP cloud business was a big growth driver, contributing 34 percent growth in the first half of FY24 (YoY), the company informed.

In Q2 FY24, Oracle gained 28 percent in revenues from net new customers.

“Our cloud regions in Mumbai and Hyderabad are running at full capacity, with customers deriving business benefits of scale, price, performance, and reduced costs. Oracle is driving change in industries and dominates some of the biggest transformations in India,” said Srikanth Doranadula, Group Vice President of technology, at Oracle India.

“Our next-gen technologies like AI, ML, and edge computing will help our customers unlock new possibilities for automation and intelligent cloud solutions,” he added.

At the ‘Oracle CloudWorld’ event, the company introduced new logistics capabilities within Oracle Fusion Cloud Supply Chain and Manufacturing (SCM).

The updates, part of Oracle Cloud SCM, will help customers optimize logistics operations by increasing visibility, reducing costs, automating regulatory compliance, and improving decision-making.

“With Oracle Cloud SCM, organizations can seamlessly manage transportation, global trade, and distribution processes. This helps them improve the speed and accuracy of operations, optimize service levels, address compliance, and mitigate the impact of supply chain disruptions,” said Srini Rajagopal, vice president of logistics product strategy, at Oracle.

The Cloud major also disclosed significant progress in its generative AI strategy, spanning cloud infrastructure, applications, and platforms.