Enabling Organizations to leverage Digital and Analytics
New Delhi, July 21, 2017: Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its consolidated results for the first quarter ended on June 30, 2017.
Consolidated revenue for the first quarter of FY 2018 is at Rs. 94.3 crore in comparison to Rs. 90.0 crore in the corresponding quarter of the previous year.
Commenting on the results, Vishnu R Dusad (CEO, Nucleus Software) said,” Building on the momentum that we generated with the launch of our cloud and analytics solutions last year, we have continued to expand our customer base. Digital continues to be at the centre of our approach to drive innovation in lending and transaction banking space, while enabling organizations to cater to the personalized requirements of their end customers. Our new solutions have been well received by our customers who continue to appreciate our focus on new age technologies, project excellence and domain expertise.”
The Company has adopted Indian Accounting Standards (Ind-AS) with effect from 1st April, 2017 (transition date being 1st April, 2016) pursuant to notification issued by Ministry of Corporate Affairs dated 16th February, 2015 notifying the Companies (Indian Accounting Standards) Rules, 2015. Accordingly, the financial results have been prepared in accordance with Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder. Consequently the results for the quarter ended 31 March 2017, 30 June 2016 and previous year ended 31 March 2017 have been restated to comply with Ind-AS to make them comparable.
Consolidated results for the first quarter ended 30th June, 2017
Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free bonds are at Rs. 503.7 crore as on 30th June, 2017, as against Rs. 394.5 crore on 30th June, 2016.
- Won 3 new product orders worldwide and added 1 new customer in Q1 FY18