Nucleus Software Q4 Net jumps 80 pc to Rs 18.84 cr

IT services firm Nucleus Software today reported an 80 per cent jump in net profit at Rs 18.84 crore for the quarter ended March 31, 2014, helped by growth in the Middle East, India, Americas and South East Asia regions.
The Noida-based company had posted a net profit of Rs 10.45 crore in the year-ago period.
Consolidated revenues rose by 19 per cent to Rs 87.69 crore in the January-March quarter of the last fiscal from Rs 73.44 crore in the same quarter of 2012-13 fiscal.
However, on a quarter-on-quarter (q-o-q) basis, the net profit and revenues declined on account of some orders shifting to the next quarter.

Reacting to the results, shares of the company today fell by 7.96 per cent to settle at Rs 212.25 apiece on BSE.
In October-December 2013-14, Nucleus Software reported a net profit of Rs 23.38 crore and revenues of Rs 89.96 crore.

Commenting on the performance, Nucleus Software CEO Vishnu R Dusad said: "FY 2013-14 has been a remarkable year for Nucleus Software. We continued our focus on product innovation and organisational transformation."
On the decline in net profit and revenues q-o-q, Disad said: "I would not read much into it. Some of our orders got shifted to the next quarter."

For the entire 2013-14 fiscal, net profit rose by 42 per cent to Rs 64.34 crore, while revenue was up 18 per cent to Rs 346.22 crore.
Cash and cash equivalents, investments in debt schemes of mutual funds and tax free PSU bonds stood at Rs 322.50 crore as on March 31, 2014.
The firm added three clients during the fourth quarter and nine during the entire fiscal. Its total headcount stood 1,520 employees as of March 2014.