Nucleus Software Q4 net dips 52%

IT company Nucleus Software Exports today reported a fall of 51.74% in consolidated net profit to Rs 4.43 crore in the quarter ended March 31, 2011.

The company had posted a net profit of Rs 9.18 crore for the same period a year-ago, Nucleus Software said in a regulatory filing.

For the year ended March 31, 2011, the IT services provider reported a dip of 31.43% in net profit to Rs 26.33 crore from Rs 38.40 crore in the same period last year.

The company's income from software products and services also declined to Rs 65.54 crore in the January-March period from Rs 72.25 crore in the same period last year.

However, on a standalone basis, Nucleus reported a net profit of Rs 16.41 crore for the quarter ended March 31, 2011, as against Rs 4.97 crore in the same period of the previous year.

The board of directors of the company has proposed a final dividend of Rs 2.50 per share. The payment is subject to the approval of shareholders.

Shares of the company were trading at Rs 91.90 on the BSE, down 1.45% from their previous close, at 1058 hours.