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Nucleus Software announces Q2 FY 2015 results
Strategic investments in Sales, Marketing & New Products continue to garner good momentum
Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global software product and solutions provider to the banking and financial services industry, today announced its financial results for the quarter ending 30th September, 2014. The revenue for the second quarter of FY 2015 grew to Rs.86.83crore, a growth of 5.57 % from the corresponding Q2 of the previous year. Revenue for the first half year of FY 2015 is at Rs. 166.26 crore, against Rs. 168.57 crore in the corresponding half year of FY 2014.
Commenting on the company’s performance, Mr. Vishnu R. Dusad, CEO, Nucleus Software, said, “The first half of the year has seen us take on strategic initiatives in new products, market development and people. With the successful deployment of the new Lending product suite, FinnOne NeoTM, as well as continued traction for the transaction banking suite, FinnAxiaTM, we are confident of the coming quarters. The focus on strengthening long term customer relationships will remain strategic.”
The company shared that the new product suite, FinnOne NeoTM, has successfully gone Live to manage credit card customer acquisitions for one of the largest Indian banks. This customer-centric solution from Nucleus Software solution will be implemented across the bank’s national operations by Q4 FY 2015.
The company showcased its latest Transaction Banking solution, FinnAxiaTM – a new, dynamic and comprehensive product suite designed to power the transaction banking space, at Sibos 2014 in Boston. With the theme of, “Driving the New Normal: Agile.Scalable.Relevant”, Nucleus Software shared insights in seminars on the opportunities and challenges facing bankers across the world. FinnAxiaTM provides a vantage point that can provide integrated and enterprise-wide view of the financial supply chain for cash optimization.
Nucleus Software, one of the pioneers of the India product story started its journey of developing world class IT products more than two decades ago. To foster the spirit of product innovation across the globe, the company recently announced an India Internship Program with Waseda University, Japan to get hands-on experience of cutting edge technology practices. This initiative is a reiteration of Nucleus Software’s commitment to spread the spirit of product entrepreneurship across the globe.
Financial Highlights
Consolidated results for the quarter ended 30th September, 2014
- Revenue for the quarter stood at Rs. 86.83 crore from software products and solutions in comparison to Rs. 82.25 crore in the corresponding Q2 of the previous year.
- Product business revenue for the quarter was at Rs. 61.95 crore in comparison to Rs. 54.95 crore in the corresponding Q2 of the previous year.
- EBITDA for the quarter stood at Rs. 15.54 crore in comparison to Rs. 12.82 crore in the corresponding Q2 of the previous year.
- Net Profit after Tax (PAT) stood at Rs. 12.85 crore in comparison to Rs. 10.94 crore in the corresponding Q2 of the previous year.
- Earnings Per Share (EPS) for the quarter is at Rs. 3.97 in comparison to Rs. 3.38 in the corresponding Q2 of the previous year.
Consolidated results for the half-year ended 30th September, 2014
- Revenue at Rs. 166.26 crore from software products and software development services in comparison to Rs. 168.57 crore in the corresponding half-year of the previous year
- Product business revenue at Rs. 118.34 crore in comparison to Rs. 117.43 crore in the corresponding half-year of the previous year
- EBIDTA at Rs. 25.67 crore in comparison to Rs. 27.04 crore in the corresponding half-year of the previous year
- Net Profit after Tax (PAT) at Rs. 24.50 crore in comparison to Rs. 22.11 crore in the corresponding half-year of the previous year
- Earnings Per Share at Rs. 7.57 in comparison to Rs. 6.83 in the corresponding half-year of the previous year
Liquidity
Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds are at Rs. 305.71 crore as on 30th September, 2014, as against Rs. 290.01 crore on 30th September, 2013.
For the quarter ended 30th September, 2014:
- The second quarter of FY 2015 saw a total of 1 new customer being added to the count of over 150 customers across the globe
- Nucleus Software won 4 new product orders worldwide
- In Q2 FY 2015, 1 product module implementation successfully went live.
For the Half Year Ended 30th September, 2014:
- Won 6 new product orders worldwide
- 1 new customer added
- 8 product modules successfully implemented across geographies
The global strength of employees at Nucleus Software as on 30th September, 2014 stands at 1558 against 1650 as on 30th September, 2013.
Nucleus Software invited its customers and partners in Tokyo, Japan on 29th July 2014 for an exclusive interactive session titled Shaping Banking Technology for Future Growth
Ubank announced at a press conference held in Johannesburg that it completed the roll out of a new credit and loan system powered by Nucleus Software’s Global No.1 Lending Solution, FinnOneTM to grow its current portfolio to 1.5 million accounts by 2017.
Nucleus Software hosted a customer meet to showcase its Integrated Transaction Banking Product Suite, FinnAxiaTM to the banking and financial services industry in Philippines market on August 14, 2014.
To discuss “Pre-approvals to early warnings: Re-imagining lending business end to end with digital tech”, the company exhibited at FIBAC 2014 being organized by IBA & FICCI India on 15-16 September, 2014 in Mumbai
Nucleus Software exhibited at Middle East Banking Innovation Summit 2014 to share insights on ‘How banks are leveraging Mobility for efficient and profitable loan operations' in a speaker session and showcased its award winning Mobility product solutions at the event in Dubai on September 29 -30, 2014
Driving the New Normal in Transaction Banking, Nucleus Software exhibited its Integrated Transaction Banking product Suite, FinnAxia at SIBOS 2014 from the 29thSeptember – 02nd October, 2014 in Boston
