Insurance software and e-commerce services supplier Ebix has reported a second-quarter net profit of $US13.6 million ($14.7 million), which is little changed from the corresponding period last year.

Total revenue grew 1% to $US51.5 million ($55.2 million), with the exchanges division contributing about 80% of that total.

The strength of the US dollar against Australian and Brazilian currencies reduced revenue by $US500,000 ($539,115) across the exchange and broker systems channels.

“We are continuing to pursue a number of deals that can have a meaningful impact on future revenues,” Chairman and CEO Robin Raina said. “Our sales pipeline is strong and we feel good about the opportunities ahead of us.”

Ebix recently obtained a $US150 million ($162 million) credit line, giving it the flexibility to pursue share buybacks and acquisitions.

Operating income fell 9% to $US17.5 million ($18.9 million), while the operating margin dropped to 34% from 38% in the second quarter of last year, when the reversal of contingent liabilities related to the Planetsoft acquisition lifted results.