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Nucleus Jan-Mar Net up 28 pct; to Increase Headcount

April 30, 2007
NEW DELHI (Reuters) - Financial software services provider Nucleus Software Exports Ltd. on Monday reported a 28 percent rise in its consolidated quarterly net profit riding Japanese and Middle Eastern demand.

The company also said its board approved a 1-for-1 stock split due to a strong order book position.

Nucleus plans to increase its headcount by more than 25 percent to 1,900 in 2007/08 to execute its order book worth 3.3 billion rupees, Chief Executive Officer Vishnu Dusad said.

It is looking to expand to 100 countries, from the current 22, in three years, he said.

Earlier in the day Nucleus reported a consolidated net profit of 139.5 on revenues of 601.6 million rupees. Revenues increased 43 percent from the year ago.

Shares of the company ended up 10 percent at 1,065.65 rupees in a weak Mumbai market.