Nucleus Software Exports scales 52-week high after strong Q3 results

Nucleus Software Exports jumped 18.64% to Rs 160.70 at 14:23 IST on BSE after consolidated net profit jumped 113.71% to Rs 23.28 crore on 9.37% growth in total income from operations (net) to Rs 89.96 crore in Q3 December 2013 over Q2 September 2013.

The company announced Q3 results during market hours today, 20 January 2014.

Meanwhile, the BSE Sensex was up 82.02 points, or 0.39% to 21,145.64

On BSE, 2.88 lakh shares were traded in the counter as against average daily volume of 21,464 shares in the past one quarter.

The stock hit a 52-week high of Rs 161.80 in intraday trade today, 20 January 2014. It hit a low of Rs 140.20 so far during the day. The stock had hit a 52-week low of Rs 65.25 on 1 August 2013.

The small-cap stock outperformed the market over the past one month till 17 January 2014, rising 16.87% compared with the Sensex's 2.19% rise. The scrip also outperformed the market in past one quarter, surging 38.85% as against Sensex's 3.17% rise.

The software firm has an equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Nucleus Software Exports said that the company saw a total of three new customers being added to the count of over 150 customers across the globe in Q3 December 2013. The company said that 31 product module implementations successfully went live across geographies and it won 8 new product orders worldwide in the latest concluded quarter.

Commenting on the performance of the third quarter, Mr. Vishnu R. Dusad, CEO and Managing Director, Nucleus Software Exports, said, We are continuing to register a healthy growth in the current financial year. We are happy to share that our increasing penetration in new markets has given us a positive momentum. Additionally, with the objective of building capabilities for the future, we have been investing in new talent and nurturing the existing talent pool. Our focus on our people has been to ensure quality and achieving perfection while delivering world class products to our customers.

Nucleus Software Exports said that continued focus on building the right talent as a foundation of growth will remain one of its top priorities in the coming quarters. Focusing on integrated talent management for sustained higher performance, the company has recruited a healthy mix of graduate talent and experienced professionals in technology and business management areas.

Nucleus Software Exports said that the company has hired over 200 campus graduates and over 190 experienced professionals in the current financial year. In Q3 December 2013, the company hired a mix of over 100 campus graduate and experienced professionals. The organization has started investing in relationships and hiring from top B-Schools in India to strengthen the strategic management and functional business management capabilities across its various teams. Nucleus Software has strengthened its commitment and investment in Talent and Leadership Development initiatives to build leadership capability for the future across all levels in the organization, the company said.

Nucleus Software Exports' cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds was Rs 299.45 crore as on 31 December 2013, as against Rs 249.44 crore on 31 December 2012.

Nucleus Software Exports is a leading software powerhouse providing innovative and pioneering software solutions for banks and financial organizations globally.

Powered by Capital Market - Live News