Nucleus Software plunges over 15% on disappointing Q1 results

The stock plunged 18% to Rs 277 after reported 42% YoY drop in net profit at Rs 6.79 crore in June quarter.

Shares of Nucleus Software Exports plunged 18% to Rs 277 on the BSE in early morning trades after the company reported a 42% year-on-year (YoY) decline in its consolidated net profit at Rs 6.79 crore for the quarter ended June 30, 2015 (Q1).

The information technology (IT) software products company had reported a profit of Rs 11.65 crore in the year-ago quarter. It had posted a profit of Rs 20.64 crore in the March 2015 quarter.

Income from operations of the company during the quarter grew 6.8% at Rs 84.82 crore on a Y-o-Y basis.

At 09:44 AM, the stock was down 16% at Rs 283 on the BSE. A combined 406,123 shares changed hands on the counter on the BSE and NSE.

Meanwhile, the stock has rallied 41% in the past one month from Rs 239 to Rs 339 compared to 0.27% decline in the S&P BSE Sensex till yesterday.