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Nucleus Software Announces Q2 FY 2014 Results

October 21, 2013 | Press Release

 New Delhi, 21 October, 2013: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global software product and solutions provider to the banking and financial services industry, today announced its financial results for the quarter ending 30th September, 2013. The revenue for the second quarter of FY 2014 grew to Rs. 82.25 crore, a growth of 14.64 % from the corresponding Q2 of the previous year. Revenue for the first half year of FY 2014 grew to Rs. 168.57 crore, a growth of 15.71% on a year on year basis.

Commenting on the company’s performance, Mr. Vishnu R. Dusad, CEO and Managing Director, Nucleus Software, said, “The first half of the year has seen us register a healthy growth. Access to new markets and our focus on realizing the full potential of mobility has enhanced our performance. As we move ahead, product innovations, seamless implementation across geographies and nurturing long term customer relationships will continue to be the driving force for strengthening our global leadership position.”

Nucleus Software is leveraging innovative technologies with an expanding product portfolio as the global banking industry gears up for the next generation of requirements. The company recently launched the mobility suite of its award-winning global #1 lending solution, FinnOne™.

Unlocking the potential of mobile technology, the mobility suite –mCAS, mServe & mCollect caters to the growing demand for a flexible, future-ready mobile platform that seamlessly integrates with desktop applications running mission critical banking operations. 

The company is looking at profitable growth by penetrating deeper into fast growing markets like Africa, Middle East and Australia. As a part of the transformational initiatives, Nucleus Software continues to invest in strengthening the sales and marketing backbone

Financial Highlights 

Consolidated results for the quarter ended 30th September, 2013

  1. Revenuefor the quarter stood at  82.25 crore from software products and solutions in comparison to Rs. 71.75 crore in the corresponding Q2 of the previous year.
  2. Product business revenuefor the quarter was at  54.95 crore in comparison to Rs. 47.82 crore in the corresponding Q2 of the previous year.
  3. EBITDAfor the quarter stood at  12.82 crore in comparison to Rs. 11.96 crore in the corresponding Q2 of the previous year.
  4. Net Profit after Tax (PAT) stood at  10.94 crore in comparison to Rs. 10.10 crore in the corresponding Q2 of the previous year.
  5. Earnings Per Share (EPS)for the quarter is at  3.38 in comparison to Rs. 3.12 in the corresponding Q2 of the previous year.

Consolidated results for the half-year ended 30th September, 2013 

  1. Revenueat  168.57 crore from software products and software development services in comparison to Rs. 145.69 crore in the corresponding half-year of the previous year 
  2. Product business revenueat  117.43 crore in comparison to Rs. 98.40 crore in the corresponding halfyear of the previous year
  3. EBIDTAat  27.04 crore in comparison to Rs. 21.12 crore in the corresponding half-year of the previous year
  4. Net Profit after Tax (PAT)at 22.11 crore in comparison to Rs. 22.39 crore in the corresponding halfyear of the previous year
  5. Earnings Per Shareat  6.83 in comparison to Rs. 6.91 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 PSU bonds are at Rs. 290.01 crore as on 30th September, 2013, as against Rs. 234.76 crore on 30th September, 2012.

BUSINESS HIGHLIGHTS

For the quarter ended 30th September, 2013: 


  1. The company recorded first win for its functionally rich, highly flexible, self-service mobile loan operations solution FinnOne™ mServe. In addition, Nucleus Software won 3 new product orders for FinnOneTM suite and 1 new product order for the Integrated Transaction Banking suite
  2. The second quarter of FY2014 saw a total of 5 new customers being added to the existing count of 150 customers across the globe
  3. In Q2 FY2014, 2 product module implementations successfully went live across geographies 

For the Half Year Ended 30th September, 2013:

  1. Won 7 newproduct orders worldwide
  2. 6new customers added
  3. 12product modules successfully implemented across geographies

The global strength of employees at Nucleus Software as on 30th September, 2013 stands at 1650 against 1622 as on 30th September, 2012.

EVENTS HIGHLIGHTS


  1. Religare Finvest Limited (RFL) announced at a press conference that Nucleus Software’s FinnOne™ mCollect module enabled RFL to enjoy 85% reduction in float money in the system, 70% reduction in cost per receipt, and Turnaround Time (TAT) reduction of 1-2 days
  2. Nucleus Software exhibited its robust product roadmap in the Transaction Banking space at SIBOS 2013 from the 16th -19th September 2013 in Dubai

To find out more about the company’s participation at global events, please visit the following page: http://www.nucleussoftware.com/events.html 

INVESTOR CONFERENCE CALL INFORMATION 

Date

October 21, 2013

Time

4:00 PM IST

Conference ID

88095760#

All India Toll Free Number 
Back Up All India Toll Free Number

18002001298 
18002000209

Dial In Access Numbers

Delhi/ NCR: 011- 39406000/ 44121100 
Mumbai:022- 39406000/ 44121100
Kolkata:033- 39406000
Chennai: 044- 39406000/ 44121100


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