October 17, 2017
| Press Release
Nucleus Software announces Q2 FY 2018 Results
New Delhi, India, October 17, 2017: Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its financial results for the quarter and half year ended 30th September, 2017.
Consolidated revenue for the second quarter of FY18 is at Rs. 100.4 crore compared to Rs. 95.6 crore in Q2 of the previous year. Revenue for the first half year of FY18 is at Rs. 194.8 crore, against Rs. 185.6 crore in the corresponding half year of FY17.
“Q2FY18 was a very interesting quarter for us as we gained 9 new customers and completed 18 successful implementations worldwide. We helped Atlas Finance, a micro finance lender in South Africa to make better, faster and more data driven decisions with Nucleus Lending Analytics solution. I am delighted to share that our FinnOne Neo Cloud offering has generated tremendous interest in the market, helping us close 11 deals in the last one year and in fact, one of these implementations went live in just four days. This shows that the financial services sector is aggressively looking at how digital and cloud technology can be used as an enabler to extend their reach across India,”said Mr. Vishnu R. Dusad (CEO, Nucleus Software).
Consolidated results for the Quarter ended 30th September, 2017
- Consolidated revenue for the quarter stood at Rs. 100.4 crore in comparison to Rs. 95.6 crore in the corresponding Q2 of the previous year
- Product business revenue for the quarter was at Rs. 78.9 crore in comparison to Rs. 75.1 crore in the corresponding Q2 of the previous year
- EBIDTA for the quarter stood at Rs. 13.7 crore in comparison to Rs. 14.6 crore in the corresponding Q2 of the previous year
- Net Profit after Tax (PAT) stood at Rs. 15.7 crore in comparison to Rs. 15.4 crore in the corresponding Q2 of the previous year
- Earnings Per Share for the quarter is at Rs. 4.93 in comparison to Rs. 4.77 in the corresponding Q2 of the previous year
Consolidated results for the half-year ended 30th September, 2017
- Consolidated revenue stood at Rs. 194.8 crore in comparison to Rs. 185.6 crore in the corresponding half-year of the previous year
- Product business revenue at Rs. 152.1 crore in comparison to Rs. 144.2 crore in the corresponding half-year of the previous year
- EBIDTA stood at Rs. 23.8 crore in comparison to Rs. 24.5 crore in the corresponding half-year of the previous year
- Net Profit after Tax (PAT) stood at Rs. 27.2 crore in comparison to Rs. 27.9 crore in the corresponding half-year of the previous year
- Earnings Per Share at Rs. 8.47 in comparison to Rs. 8.61 in the corresponding half-year of the previous year
Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds are at Rs. 389.9 crore as on 30th September, 2017, as against Rs. 412.0 crore on 30th September, 2016.
- Continuing with our expansion strategy, we have added 09 new customers this quarter
- Won 15 new product orders worldwide in Q2 FY18
- During the quarter, 18 product module implementations successfully went live across the globe
- Atlas Finance, a micro-finance company in South Africa chooses Nucleus Lending Analytics to make faster, better lending decisions
- TAB Capital Limited, an award winning Non-Banking Finance Company (NBFC) of Pune, selected Nucleus FinnOne Neo Cloud to power growth in Digital Lending
- Sai Point Finance Corporation Ltd., Non- Banking Finance Company (NBFC) goes live with Nucleus FinnOne Neo Cloud in just 4 days
- Completed FinnOne Neo deployment in the cloud for Finova Capital, a Jaipur-based Non-Banking Financial Company (NBFC) to power business growth, with a seamless customer acquisition platform, while streamlining home loan processing and helping them to scale faster
- Strengthens digital capabilities with the latest version of its Integrated Transaction Banking Solution, FinnAxia.
- Organized an exclusive industry roadshow on ‘driving Innovation in Lending’ for leading banks and financial institutions in Tanzania
- Showcased expertise on the fast-evolving trends that are transforming the microfinance industry at the Microfinance South Africa 2017 Annual General Meeting & Conference (MFSA AGM) in South Africa
- Presented insights on ‘Digital Lending and Advanced Analytics’ at the Middle East Banking Innovation Summit (MEBIS) 2017 in Dubai
- Hosted an exclusive industry roundtable discussion in Mumbai for Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs) with the theme of ‘Driving Innovation in Lending’ in association with Dun & Bradstreet and Amazon Web Services in Mumbai
- Hosted an exclusive industry roundtable discussion for banks and NBFCs with the theme of ‘Driving Innovation in Lending’ in association with Dun & Bradstreet in Delhi
- Participated in the National Cooperative Banking Summit 2017 (NCBS) hosted by Banking Frontiers and demonstrated insights on ‘How next generation digital lending solutions can help you transform your business’ in Jaipur
- Won award for 'Best Corporate Social Responsibility Practices' at Asia Pacific HRM Congress in Bangalore
- The global strength of employees at Nucleus Software as on 30th September, 2017 stands at 1802 against 1696 as on 30th September, 2016.