Nucleus Software Exports spurts after robust Q2 outcome

Nucleus Software Exports jumped 13.96% to Rs 217.10 at 14:32 IST on BSE after consolidated net profit rose 26.32% to Rs 13.68 crore on 6.28% rise in total income to Rs 95.60 crore in Q2 September 2016 over Q1 June 2016.

The result was announced after market hours yesterday, 20 October 2016.

Meanwhile, the S&P BSE Sensex was down 150.46 points, or 0.53%, to 27,979.38

On BSE, so far 2.51 lakh shares were traded in the counter, compared with an average daily volume of 5,611 shares in the past one quarter. The stock hit a high of Rs 223.95 and a low of Rs 207 so far during the day. The stock hit a 52-week high of Rs 290.90 on 2 December 2015. The stock hit a 52-week low of Rs 145.20 on 29 February 2016. The stock had outperformed the market over the past 30 days till 20 October 2016, gaining 2.2% compared with 1.32% fall in the Sensex. The scrip, however, underperformed the market in past one quarter, falling 3.86% as against Sensex's 1.17% rise.

The small-cap company has an equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Vishnu R. Dusad, CEO, Nucleus Software Exports said that the company saw continuing traction in cloud business and digital solutions in Q2 September 2016.

Nucleus Software Exports said that during the quarter, 10 product module implementations successfully went live across the globe. Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds are at Rs 412.0 crore as on 30 September, 2016, as against Rs 342.6 crore on 30 September 2015.

Nucleus Software Exports is the leading provider of lending and transaction banking products to the global financial services industry.

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