Nucleus Software clocks revenue of Rs 128 crore in Q2 FY20

Nucleus Software said on Thursday its consolidated revenue for the second quarter of FY20 totalled Rs 128 crore compared to Rs 121 crore in corresponding quarter of the previous year.

Revenue for the first half-year of FY20 is at Rs 252 crore against Rs 234 crore in the corresponding half-year of FY19.

Product business revenue for the quarter was at Rs 101 crore in comparison to Rs 96 crore while earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter stood at Rs 21 crore in comparison to Rs 23 crore in the corresponding quarter of previous year.

Net profit after tax stood at Rs 21 crore in comparison to Rs 19 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.

The company got five new customers to its growing roster of innovative financial services companies. It won seven new orders and completed nine product module implementations across the world.

"The financial services segment in India is witnessing some challenges with both banks and non-bank financial companies (NBFCs) facing headwinds in growth," said Managing Director Vishnu Dusad.

"We are in continuous dialogue with our customers to help them recalibrate their business strategies and leverage technology in dealing with the evolving business dynamics," he said in a statement.

Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax-free bonds, totalled Rs 506 crore as on September 30 as against Rs 523 crore on June 30.

.