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Nucleus Software announces Q2 FY 2016 Results

October 28, 2015 | Press Release

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.

FINANCIAL HIGHLIGHTS

Consolidated results for the Quarter ended 30th September, 2015

  • - Consolidated revenue for the quarter stood at Rs. 84.7 crore in comparison to Rs. 86.8 crore in the corresponding Q2 of the previous year
  • - Product business revenue for the quarter was at Rs. 62.8 crore in comparison to 62.0 crore in the corresponding Q2 of the previous year
  • - EBIDTA for the quarter stood at R 1.7 crore in comparison to Rs. 15.5 crore in the corresponding Q2 of the previous year
  • - Net Profit after Tax (PAT) stood at R 4.5 crore in comparison to Rs. 12.9 crore in the corresponding Q2 of the previous year
  • - Earnings Per Share for the quarter is at Rs. 1.40 in comparison to Rs. 3.97 in the corresponding Q2 of the previous year

Consolidated results for the half-year ended 30th September, 2015

  • - Consolidated revenue stood at Rs. 169.5 crore in comparison to Rs. 166.3 crore in the corresponding half-year of the previous year
  • - Product business revenue at Rs. 125.6 crore in comparison to 118.3 crore in the corresponding half-year of the previous year
  • - EBIDTA stood at R 6.0 crore in comparison to Rs. 25.7 crore in the corresponding half-year of the previous year
  • - Net Profit after Tax (PAT) stood at R 11.3 crore in comparison to Rs. 24.5 crore in the corresponding half-year of the previous year
  • - Earnings Per Share at 3.50 in comparison to Rs. 7.57 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. 342.6 crore as on 30th September, 2015, as against Rs. 305.7 crore on 30th September, 2014.

BUSINESS HIGHLIGHTS

For the Quarter ended 30th September, 2015:

  • - The company won one new product order worldwide
  • - The second quarter of FY 2016 saw a total of one new customer being added to the count of over 150 customers across the globe
  • - In Q2 FY2016, 11 product module implementations successfully went live across the globe

For the Half year ended 30th September, 2015:

  • - Won  two new product orders worldwide
  • - Two new customers added
  • - 18 product modules successfully implemented across geographies

  • 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
  • - At the 7th Annual Retail Banking Africa 2015, Nucleus Software showcased its complete product suite including FinnOne NeoTM. During the event, Mr. Percy Thaver, Vice President & Head – Africa Sales, Nucleus Software shared insights on global trends in Retail Banking and how technology can help banks capitalise on the opportunities created.  http://bit.ly/1ELGEXg
  • - Nucleus Software was a strategic partner in FIBAC 2015, India’s premier banking conference on 24-25 August, 2015 in Mumbai. At the event, Mr. Daragh O’Byrne, Global Head - Marketing and Alliances shared insights on “Does a Winning Bank of the Future look like a Technology Company?”. http://www.nucleussoftware.com/fibac-2015
  • - Nucleus Software hosted an exclusive dialogue on ‘Shaping the Future of Finance’ for the Banking and Finance Industry in the Philippines on 13th August 2015. During two back-to-back events experts from Nucleus Software shared the company’s global expertise. http://bit.ly/1W89AuY
  • - The company hosted a roundtable discussion for CIOs and Business Heads from leading NBFCs on “Shaping The Future of Lending For Non-Banking Finance Companies (NBFCs)". The invitation-only event took place in Chennai on August 5, 2015 in association with Red Hat and was designed to address the issues and challenges faced by NBFCs in India. http://bit.ly/1OVIaba
  • - Nucleus Software participated in the West Africa International Retail Banking Dialogue 2015 as a Thought Leadership Sponsor organised by The Asian Banker. The company shared its deep expertise through a session titled “Enhancing technology infrastructure to expand the banks scope and enhance customer experience across delivery channels”. http://bit.ly/1OLMYBB

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