Nucleus Software clocks revenue of Rs 124 cr in Q1 but profit dips marginally

Nucleus Software said on Wednesday its consolidated revenue for the first quarter of 2019-20 totalled Rs 124 crore compared to Rs 112.6 crore in the corresponding quarter of the previous year.

However, net profit after tax was Rs 16.6 crore as against Rs 17.6 crore in Q1 of FY19. The earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 17.9 crore in comparison to Rs 18.3 crore in the corresponding quarter of the previous year.

Nucleus Software provides lending and transaction banking products to the global financial services industry. Its software powers the operations of more than 150 companies in 50 countries.

"As businesses all over the world continue their digital transformation journeys, our investment in new technologies continues to position us well to help our customers succeed," said Managing Director Vishnu Dusad.

"We added five new customers, won eight new orders and completed 23 product module implementations globally. During the period, we released the latest versions of our leading solutions FinnOne Neo 4.0, the award-winning lending solution, and FinnAxia 6.5, the end-to-end transaction banking solution," he said in a statement.

Nucleus Software's product business revenue was at Rs 97.2 crore in Q1 FY20 compared to Rs 90.2 crore in Q1 FY19. The earnings per share work out to Rs 5.71 in comparison to Rs 6.06 in the corresponding Q1 of the previous year.

Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax-free bonds, were at Rs 523.1 crore as on June 30 this year as against Rs 498.5 crore on March 31, 2019.