Request a Meeting!
Request a Meeting!
Request a Meeting!

Request a Demo
Request a Demo
Request a Demo

Nucleus Software Q3 2007-2008 results -31.06% Increase in Q3 Revenue

January 21, 2008 | Press Release
New Delhi, India, January 21, 2008: Nucleus Software Exports Limited (NSE: NUCLEUS), today announced its Q3 results for financial year 2007-2008. The Board of Directors in their meeting held today, have formally approved entering into a Memorandum of Understanding with a renowned developer for 16 acres of land in a notified SEZ in Rajasthan.

Nucleus Software's consolidated revenue for the quarter ending 31st December 2007 increased by 31.08% to Rs.73.64 crore in comparison to Rs.56.18 crore for the corresponding quarter of the previous year. Net Profit after Tax (PAT) increased by 11.41% to Rs.15.53 crore in comparison to Rs.13.94 crore for the corresponding quarter in the previous year.

For the nine months ending December 31, 2007, consolidated revenue has increased by 30.82% to Rs.210.66 crore in comparison to Rs.161.03 crore for the corresponding nine months period in the previous year. Net Profit after tax (PAT) increased by 10.97% to Rs.45.72 crore in comparison to Rs.41.20 crore for the corresponding nine months period in the previous year.

Highlights:

Quarter Ended December 31, 2007

- Consolidated revenue at Rs.73.63 crore from software products and software development services increased by 31.08 % in comparison to Rs.56.18 crore in the corresponding quarter of the previous year.

- Product business revenue for the quarter at Rs.51.73 crore increased by 62.88% in comparison to Rs.31.76 crore in the corresponding quarter of the previous year.

- Projects & Services business revenue for the quarter at Rs.21.90 crore decreased by 10.32% in comparison to Rs.24.42 crore in the corresponding quarter of the previous year.

- EBIDTA at Rs.18.51 crore increased by 18.05% in comparison to Rs.15.68 crore in the corresponding quarter of the previous year.

- Net Profit After Tax (PAT) at Rs.15.53 crore increased by 11.41% as compared to Rs.13.94 crore for the corresponding quarter of the previous year.

- Earning Per Share for the quarter increased to Rs.4.80 from Rs.4.32 as compared to corresponding quarter of the previous year

Nine Months Ended December 31, 2007

- Consolidated revenue at Rs.210.66 crore from software products and software development services increased by 30.82 % in comparison to Rs.161.03 crore in the corresponding nine months of the previous year.

- Product business revenue for the nine months at Rs.145.07 crore increased by 72.50% in comparison to Rs.84.10 crore in the corresponding nine months of the previous year.

- Projects & Services business revenue for the nine months at Rs.65.59 crore decreased by 14.74% in comparison to Rs.76.93 crore in the corresponding nine months of the previous year.

- EBIDTA at Rs.52.53 crore increased by 13.90% in comparison to Rs.46.12 crore in the corresponding nine months of the previous year

- Net Profit After Tax (PAT) at Rs.45.72 crore increased by 10.97% in comparison to Rs.41.20 crore in the corresponding nine months of the previous year.

- Earning Per Share for the nine months increased to Rs.14.13 from Rs.12.78 as compared to corresponding nine months of the previous year.

Other Key Information

For the Quarter Ended December 31, 2007

- Won orders for 14 product modules of FinnOne™ Suite
- 5 new customers added in the quarter
- 11 product modules successfully implemented across the globe
- Nucleus Software amongst the top 15 ‘most exciting emerging IT/BPO companies to work for’ says Nasscom
- Added 42 new employees taking the global strength of employees to 1677

For Nine Months Ended December 31, 2007

- Won orders for implementing 44 product modules of FinnOne™ & Cash Management Suite
- Bagged 18 product orders
- Global strength of employees as on December 31, 2007 is 1677

Vishnu R. Dusad, CEO & Managing Director, Nucleus Software said, “Our continued focus on our intellectual property led business and innovation in product development has augmented our capability to serve our clients in a competitive marketplace. We continue to focus on being a partner of choice to our customers”

Accolades/Awards

• Nucleus Software amongst the top 15 ‘most exciting emerging IT/BPO companies to work for’ says Nasscom
• Nucleus Software has been listed among the ‘Best 200 under a billion companies in Asia’ (2007) by Forbes Asia magazine.
• Nucleus Software has been selected as one of the top 25 companies adopting “Good Corporate Governance Practices” by the Institute of Company Secretaries of India for second consecutive year in 2007.
• Nucleus Software was adjudged as one of the fastest growing companies in Asia Pacific under Deloitte Technology Fast 500 -2007
• Nucleus Software was ranked amongst the Top 500 most valuable companies in India by Business Today

Expansion of services and significant projects:

The Company is optimistic on its products business and foresees increasing demand for such niche products around the globe. The Company continues to focus and invest on development of software products for Banking and Financial Institutions.

• New Client Wins:
Nucleus bagged orders from 5 new customers for implementing 14 product modules of the FinnOne™ Suite in the third quarter of year 2007-2008. Product orders were bagged from leading financial institutions in Japan, Africa, Middle East & India. Consolidated for nine months ending, Nucleus has won 18 new product orders for implementing 44 modules of FinnOne™ and Cash Management Suite.

• Successful Global Implementations:
This quarter 11 product modules went live in various markets across the globe. Some of the implementations were completed in record time. This further gave increased visibility to Nucleus in the global markets, and reaffirmed its standing in the global lending and cash management space.

• Outlook
As the global lending market is evolving, Nucleus finds itself strategically placed with wide array of products to cater to the demand. Nucleus believes that in future, Indian product companies will gain greater market share in Global software markets and is all set to capitalize on the upswing in the industry

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