New Delhi, India, 28 October, 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 September, 2015. Consolidated revenue for the second quarter of FY 16 is at Rs. 84.7 crore compared to Rs. 86.8 crore in Q2 of the previous year. Revenue for the first half year of FY 2016 is at Rs. 169.5 crore, against Rs. 166.3 crore in the corresponding half year of FY 2015.
Commenting on the Company’s performance Mr. Vishnu R. Dusad, CEO, Nucleus Software said, “I am happy to report that the company is continuing to make steady progress on its strategy. Strategic investments and partnerships in the last quarter have provided us with great opportunities to grow and to continue our mission to help our customers succeed. In Q2 Magma FinCorp Ltd., a leading Non Banking Finance Company (NBFC), became the latest addition to our growing customer base of innovative companies. Magma FinCorp will implement FinnOne NeoTM to power its loan origination and loan management operations. During the quarter we released new versions of our key products targeted specifically for Mutuals and NBFCs. We have further strengthened our leadership team with senior appointments. I am confident of the quarters ahead as we continue to build on our sales and marketing activities around the world.”
In the second quarter, the company launched new versions of its award winning lending solution FinnOne NeoTM. The new releases have been designed to meet the needs of the Mutual sector in Australia and the Non Banking Financial Company sector in India. Powered by FinnOne NeoTM, these new solutions are comprehensive, technologically advanced and are designed to manage the complete loan lifecycle – from designing and launching innovative products in minutes to dramatically reducing exposure to risk. With cloud-based deployment options, the solutions provide an effective mechanism to overcome the high upfront investment often associated with the latest technologies.
The company built on its strategic alliance to deliver the lending solution, FinnOne NeoTM, on the Microsoft Azure platform to provide banks and finance companies with an advanced lending solution that is secure, scalable and responsive to changing customer demands. Nucleus Software also built on its global alliance with Red Hat during its “Shaping The Future of Lending For Non-Banking Finance Companies” seminar. The round table discussion was aimed at addressing the issues and challenges faced by NBFCs in India.
Consolidated results for the Quarter ended 30th September, 2015
Consolidated results for the half-year ended 30th September, 2015
Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds are at Rs. 342.6 crore as on 30th September, 2015, as against Rs. 305.7 crore on 30th September, 2014.
For the Quarter ended 30th September, 2015:
For the Half year ended 30th September, 2015:
The global strength of employees at Nucleus Software as on 30th September, 2015 stands at 1603 against 1588 as on 30th September, 2014.
EVENTS HIGHLIGHTS- Nucleus Software participated at the 2015 Customer Owned Banking Convention from 19th to 22nd September 2015 in Darwin, Australia. At the event, the company launched its latest Lending Solution - FinnOne NeoTM for Mutuals, a solution designed specifically to meet the needs of the Mutuals sector. http://bit.ly/1gnYBz8