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Nucleus Software Q4 net jumps 28% to Rs 14 cr

April 29, 2008 | The Hindu Business Line
New Delhi, April 28 Nucleus Software Exports Ltd on Monday posted 12 per cent rise in consolidated net profit for the fiscal ended March 2008 to Rs 61.74 crore, on the back of a healthy growth in products business and improved pricing.

The consolidated revenue, at Rs 288.72 crore from software products and software development services, represented 30.53 per cent growth in comparison to Rs 221.19 crore in the previous year. The product business revenue for the year at Rs 197.41 crore was 64.8 per cent higher in comparison to Rs 119.76 crore in the previous year. EBITDA at Rs 73.41 crore was up 16.01 per cent year-on-year.

“Our vision and focus to invest in IPR-led growth continued to create an excellent value proposition for our customers. Productled strategy is giving consistent results with 24 significant product wins in FY 2008,” Mr Vishnu R Dusad, CEO and Managing Director, said.

For the fourth quarter ended March 2008, the consolidated revenue rose 29.75 per cent to Rs 78.06 crore. The net profit after tax increased 14.84 per cent to Rs 16.02 crore in comparison to Rs 13.95 crore in the corresponding quarter of the previous year. During the quarter, the company won orders for implementing 18 product modules, and bagged eight new product orders.

While the company did not give guidance for FY09, Mr Dusad said that the company would not be impacted by the slowdown in the market. “Our focus markets, West Asia, Africa and Japan will not be affected,” he added.