The information technology solutions provider i-flex Solutions on Thursday reported a five per cent drop in its net profit to Rs 38.11 crore (Rs 381.1 million) for the quarter ended June 30, 2003 as against Rs 40.07 crore (Rs 400.7 million) for the corresponding period last fiscal.

However, i-flex's revenue jumped 32 per cent to Rs 183.43 crore (Rs 1,834.3 million), from Rs 138.82 crore (Rs 1,388.2 million), according to a company statement in Bangalore.

The company added nine new Flexcube customers during the first quarter, with the Flexcube cumulative customer count crossing 150. Flexcube is an end-to-end product suite for consumer, corporate, investment and Internet banking, asset management and investor servicing, it said.

i-flex reported acquiring six new customers for the PrimeSourcing line of business during April-June 2003.

PrimeSourcing offers customised application development, reengineering and maintenance; testing and product support and system integration services through various onsite/off-shore delivery models, it added.