Nucleus Software Announces Q2 FY20 Financial Results

Continuous focus on innovation; enabling banks and financial institutions to leverage the power of digital transformation

NEW DELHI, Oct. 24, 2019 /PRNewswire/ — Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its consolidated results for the quarter and half year ended 30th September, 2019. 

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Consolidated revenue for the second quarter of FY20 is at Rs. 128.2 crore compared to Rs. 121.5 crore in corresponding quarter of the previous year. Revenue for the first half year of FY20 is at Rs. 252.3 crore, against Rs. 234.1 crore in the corresponding half year of FY19.

Vishnu R Dusad (Managing Director, Nucleus Software) said, “The second quarter was eventful in-terms of new customers, product orders and implementations. During the period, we welcomed 5 new customers to our growing roster of innovative financial services companies. We won 7 new orders and completed 9 product module implementations across the world. Recognizing the importance of Information technology we continue to invest in the latest technologies to help our customers digitize their operations and achieve their business ambitions. The financial services segment in India is witnessing some challenges with both banks and Non-Bank Financial Companies (NBFCs) facing headwinds in growth. We are in continuous dialogue with our customers to help them recalibrate their business strategies and leverage technology in dealing with the evolving business dynamics.”

Financial highlights:

Consolidated results for the Quarter ended 30th September, 2019

  • Consolidated revenue for the quarter stood at Rs. 128.2 crore in comparison to Rs. 121.5 crore in the corresponding quarter of the previous year
  • Product business revenue for the quarter was at Rs. 101.3 crore in comparison to Rs. 96.0 crore in the corresponding quarter of the previous year
  • EBIDTA for the quarter stood at Rs. 20.6 crore in comparison to Rs. 22.8 crore in the corresponding quarter of the previous year
  • Net Profit after Tax (PAT) stood at Rs. 21.1 crore in comparison to Rs. 19.1 crore in the corresponding quarter of the previous year
  • Earnings Per Share for the quarter is at Rs. 7.26 in comparison to Rs. 6.59 in the corresponding quarter of the previous year

Consolidated results for the half-year ended 30th September, 2019

  • Consolidated revenue stood at Rs. 252.3 crore in comparison to Rs. 234.1 crore in the corresponding half-year of the previous year
  • Product business revenue at Rs. 198.5 crore in comparison to Rs. 186.2 crore in the corresponding half-year of the previous year
  • EBIDTA stood at Rs. 38.5 crore in comparison to Rs. 41.1 crore in the corresponding half-year of the previous year
  • Net Profit after Tax (PAT) stood at Rs. 37.7 crore in comparison to Rs. 36.7 crore in the corresponding half-year of the previous year
  • Earnings Per Share at Rs. 12.97 in comparison to Rs. 12.65 in the corresponding half-year of the previous year

Liquidity:

Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free bonds, etc., are at Rs. 506.1 crore as on 30th September, 2019 as against Rs. 523.1 crore on 30th June, 2019.

Business Highlights:

  • Added 5 new customers in the quarter from various geographies
  • Won 7 new orders worldwide and live with 9 product module implementations during the quarter
  • Presented expertise at Sibos 2019 in London around how banks can achieve hyper agile transaction banking in today’s hyper connected world
  • Showcased expertise at the Indonesia BFSI Innovation Summit on how FinnOne Neo is helping banks and other financial services companies drive innovation in lending
  • Demonstrated our advanced technologies at the Technology Senate Bangla conference in Kolkata
  • Participated in the Middle East Banking Summit 2019 (MEBIS) and presented insights on ‘Getting Ready for Hyper Banking – The Time is Now ‘
  • The global strength of employees at Nucleus Software as on September 30th 2019 stands at 2128.

About Nucleus Software:

Nucleus Software (BSE & NSE: NUCLEUS) is the leading provider of lending and transaction banking products to the global financial services industry. Its software powers the operations of more than 150 companies in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas. Nucleus Software is known for its world-class expertise and innovation in lending and transaction banking technology. It has two flagship products, built on the latest technology:

  • FinnOneTM 10 time winner – World’s Best Selling Lending Solution. 
  • FinnAxiaTM, an integrated global transaction banking solution used by banks worldwide to offer efficient and Innovative global payments and receivables, liquidity management and business internet banking services.
  • PaySe TM, the world’s first offline digital payment solution offering online capabilities, is designed and created with an aim to democratize money.

Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit: http://www.nucleussoftware.com/safe-harbor?preview=true

Media Contact:
Rashmi Joshi
Nucleus Software
Email: rashmi.joshi@nucleussoftware.com 
Mob: +91-9560694654

 

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