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Nucleus Software announces Q3 FY 2016 Results

January 21, 2016 | Press Release

New Delhi, India, 21 January, 2016: 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 31st December, 2015. Consolidated revenue for the third quarter of FY 16 is at Rs. 86.5 crore compared to Rs. 86 crore in Q3 of the previous year. Revenue for the first nine months of FY 16 is at Rs. 256 crore, against Rs. 252.2 crore in the corresponding period of FY 15.

 

“Continuing our relentless focus on customer success we launched a range of innovative solutions, and I’m delighted to say that it is starting to bear fruit in the growth of our customer base, with 3 new customers choosing our solutions in the quarter. We launched the world’s first offline digital cash solution PaySe, to empower the bottom of the pyramid and to reduce the cost of cash. We made our award winning lending solution, FinnOne Neo, available in the Cloud. This increases customer choice as they can now deploy FinnOne Neo either on-premise or in the cloud, whatever suits their business needs. Our customer base continues to grow and we are consistently winning customers in the non-bank financial institutions space. As a part of the company’s strategic growth initiatives, the Board agreed for a proposal for Nucleus to acquire a mobile technology solutions company subject to the fulfilment of terms and conditions. For three decades we have been helping our customers succeed by providing a unique combination of comprehensive functionality, the latest technologies and unmatched domain expertise. We look forward to continuing to do this in the future,” said Mr. Vishnu R. Dusad, CEO, Nucleus Software.

Key highlights:

  • - Launched PaySe™, the world’s first offline digital cash solution designed and created with an aim to democratize money. PaySe™ utilizes the latest advances in mobility, big data, open source and crypto currency (primarily tokenization) to deliver world’s first secure offline peer to peer payment solution. As consumers have deeply ingrained approaches to using cash, PaySe™ has been designed to mimic cash transactions with easy to use, one press ‘Pay’ and ‘Receive’ functions. PaySe™ will result in a “Less Cash” ecosystem eventually leading to a “Cash-Less” ecosystem for the majority of the financial transactions. By freeing up cash, the solution will facilitate the cost effective delivery of small loans starting from 100 rupees.
  • - Leveraging its deep domain expertise and experience, Nucleus made its award winning lending solution, FinnOne Neo available in the cloud. With the experience gained by working with the world’s most innovative financial services firms for three decades, Nucleus Software has ensured that the solutions’ comprehensive functional coverage can be deployed quickly and cost effectively in the cloud. In addition to significantly reducing operational costs, the new offerings help banks deliver better service to their customers supported by a wide range of market leading financial products. The new solutions can be deployed on a wide range of industry standard Cloud platforms, including Microsoft® Azure and Amazon Web Services (AWS).

- Recognized as one of the five most significant mobile banking solution vendors by an Independent Forrester Research, Inc. in The Forrester Wave – Mobile Banking Solutions, Q4 2015 report. With its five product modules entirely dedicated to serve mobile retail lending requirements, Nucleus Software was evaluated alongside four general purpose mobile banking solutions.


Financial highlights:

Consolidated results for the Quarter ended 31st December, 2015

  • - Consolidated revenue for the quarter stood at Rs. 86.5 crore in comparison to Rs. 86 crore in the corresponding Q3 of the previous year
  • - Product business revenue for the quarter was at Rs. 65.4 crore in comparison to Rs. 9 crore in  the corresponding Q3 of the previous year
  • - EBIDTA for the quarter stood at R 5.8 crore in comparison to Rs. 15 crore in the corresponding Q3 of the previous year
  • - Net Profit after Tax (PAT) stood at R 7 crore in comparison to Rs. 19.6 crore in the corresponding Q3 of the previous year
  • - Earnings per Share for the quarter is at 2.16 in comparison to Rs. 6.04 in the corresponding Q3 of the previous year

Consolidated results for the nine months ended 31st December, 2015

  • - Consolidated revenue for the period stood at Rs. 256 crore in comparison to Rs. 252.2 crore in the corresponding period of the previous year
  • - Product business revenue for the period was at Rs. 191 crore in comparison to Rs. 2 crore in the corresponding period of the previous year
  • - EBIDTA for the period stood at Rs. 8 crore in comparison to Rs. 40.7 crore in the corresponding period of the previous year
  • - Net Profit after Tax (PAT) stood at 18.3 crore  in  comparison  to  Rs. 44.1 crore in the corresponding period of the previous year
    - Earnings per Share for the period is at 5.66 in comparison to Rs. 13.61 in the corresponding period 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. 372.1 crore as on 31st December, 2015, as against Rs. 327.1 crore on 31st December, 2014.

 

Business highlights:

For the quarter ended 31st December, 2015:

  • - The third quarter of FY2016 saw a total of 3 new customers being added to the count of more than 150 customers across the globe
  • - In Q3 FY2016, 7 product module implementations successfully went live across geographies
  • - The company won 4 new product orders worldwide

For the nine months ended 31st December, 2015:    

  • - Won 6 new product orders worldwide
  • - 5 new customers added
  • - 25 product modules successfully implemented across geographies

Event Highlights:

  • Presented the newly launched next-generation integrated transaction banking product, FinnAxia 2.0 at Sibos 2015, a premier business forum for the global financial community, organized by SWIFT in Singapore (Oct 12-15,2015)
  • - During the Confederation of Indian Industry (CII) NBFC Summit held in Mumbai, Mr. Vishnu R Dusad, CEO, Nucleus Software shared his views in an interactive panel discussion on Technology - A Key Differentiator for the Next Phase of Growth.
  • - After hosting the roundtable for CIOs and Business Heads from leading NBFCs on “Shaping The Future of Lending For Non-Banking Finance Companies (NBFCs)" in Chennai, company organized an   exclusive industry round table discussion for NBFCs on ‘The Road Ahead: Powering Growth With Technology-led Innovation featuring presentations from accomplished industry speakers and bringing together an elite group of CEOs, CIOs and business leaders of leading NBFCs from Mumbai. 
  • - Participated in the Financial Information Technology Summit 2015 at Tokyo, Japan. This summit provided a forum for informative sessions that brings together key financial institutions for information exchange.

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