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Nucleus Software announces Q1 FY 2016 Results

July 31, 2015 | Press Release
New Delhi, India, 31 July, 2015: Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its financial results for the quarter ending 30th June, 2015. Consolidated revenue for the first quarter of FY 16 is at Rs. 84.8 crore compared to Rs. 79.4 crore in Q1 of the previous year.

Commenting on the Company’s performance Mr. Vishnu R. Dusad, CEO, Nucleus Software, said: “The first quarter has seen us make good progress on our transformation journey. We will continue the pace of strategic investments as we expand our operations globally, and I am confident that these will pay off as we move forward. Q1 saw the latest version of our lending product suite, FinnOne Neo, go live at a commercial bank. We released new versions of our key products, and continued to grow our marketing and sales activities around the world. Additionally, we continued to build our leadership team with new senior appointments to further advance our growth strategy.”

In the first quarter, the Company launched FinnAxia 2.0, the latest version of its next-generation integrated transaction banking product suite as part of its on-going development program and 6-monthly product release cycle. The new product suite includes extended compliance with global and regional regulations and payment standards, increased capabilities for ‘payments on behalf of’ and additional features to support bank customers running corporate shared service centres and outsourced receivables management. The latest product release comprises Global Payments, Global Receivables, Business Internet Banking, Liquidity Management and Financial Supply Chain Management.

As a part of its transformation journey, Nucleus Software saw additions to the senior management in the last quarter. Mr. Ashish Nanda- Global Head, Finance and Accounts has succeeded Mr. Pramod K. Sanghi who retired after 13 years of active service with Nucleus Software. The Company also appointed a General Counsel & Head of IP Licensing for heading the complete legal operations of the organisation.

FINANCIAL HIGHLIGHTS

Consolidated results for the Quarter ended 30th June, 2015
  1. Consolidated revenue at Rs. 84.8 crore, in comparison to Rs. 79.4 crore in corresponding Q1 of the previous year
  2. Product business revenue at Rs. 6 2 . 8 crore in comparison to Rs. 5 6 . 4 crore in the corresponding Q1 of the previous year
  3. EBIDTA at Rs. 4.3 crore in comparison to Rs. 10.1 crore in the corresponding Q1 of the previous year
  4. Net Profit after Tax (PAT) at Rs. 6.8 crore in comparison to Rs. 11.7 crore in the corresponding Q1 of the previous year
  5. Earnings Per Share at Rs. 2.10 in comparison to Rs. 3.60 in the corresponding Q1 of the previous year
LIQUIDITY

Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds are at Rs. 351.5 crore as on 30 th June, 2015, as against Rs. 319.7 crore on 30th June, 2014.

BUSINESS HIGHLIGHTS

For the Quarter ended 30th June, 2015:

  1. The Company won 1 new product order worldwide 
  2. One new customer was added to the count of more than 150 customers across the globe 
  3. Seven product module implementations successfully went live.
The global strength of employees at Nucleus Software as on 30 th June, 2015 stands at 1581 against 1488 as on 30th June, 2014.

EVENTS HIGHLIGHTS

  1. Nucleus Software showcased FinnOne NeoTM, the latest version of its next-generation lending solution at ABTEC 2015. The Company shared its global expertise in retail lending through a session titled, “The essential guide to building a World Class retail lending operation”. http://www.nucleussoftware.com/public/news/NucleusSoftware_ABTEC_Press%20Release.pdf
  2.  The Company exhibited at the ENG's Automotive Finance Summit in Amsterdam and showcased its advanced Auto Finance products. For more details, please visit the following page: http://www.nucleussoftware.com/public/news/NucleusSoftware_ENG_Press%20Release%20v1-2.pdf
  3.  Nucleus Software exhibited at The Asian Banker International Banking Convention showcasing its nextgeneration Lending and Transaction Banking solutions at the event in Bangkok, Thailand sharing its global expertise in retail and corporate banking industry. http://www.nucleussoftware.com/public/news/NucleusSoftware_The%20Asian%20Banker_Press%20Release.pdf
To find out more about the Company’s participation at global events, please visit the following page: http://www.nucleussoftware.com/events

INVESTOR CONFERENCE CALL INFORMATION

On July 31, 2015, the management team at Nucleus Software including Chief Executive Officer, Mr. Vishnu R Dusad will participate in a conference call for Investors and Analysts at 4:00 PM IST.

Details of the Earnings Conference Call are given below:
 Date July 31, 2015
Time 4:00 PM IST
Conference ID 65821260#
All India Toll Free Number 1800 419 2425
Dial In Access Numbers Delhi/ NCR:
Mumbai:
Kolkata:
Chennai:
011- 6675 4500 /3940 6000
022- 6000 5900/3940 6000
033- 6000 5900/3940 6000
044- 6000 5900/3940 6000
       
The audio and transcript of this conference call will made available at the Investor section of the website www.nucleussoftware.com

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

For Media related information, please contact:

Rashmi Joshi, Nucleus Software
Email: rashmi.joshi@nucleussoftware.com
Phone: +91-9560694654