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Nucleus Software Q4 net up 19% to Rs 10 cr

April 30, 2013 | Business standard
IT software today reported 19% increase in its consolidated at Rs 10.45 crore for the fourth quarter ended March 31, 2013, helped by the firm's focus on domain-rich expertise.

The Noida-headquartered company had posted a net profit of Rs 8.79 crore in the year-ago period, it said in a BSE filing.

The company's consolidated rose by 5% to Rs 73.44 crore during the January-March quarter of 2012-13 fiscal against Rs 70.07 crore in the year-ago period.

"FY2012 -13 has been a significant year for Nucleus. Our customer base in 50 countries and the focus on domain-rich expertise has helped sustain the company's improved performance," Nucleus Software Exports Managing Director and CEO Vishnu R Dusad told PTI.

The cash and cash equivalents, investments in debt schemes of mutual funds and tax free PSU bonds stood at Rs 266.91 crore as on March 31, 2013 against Rs 196.32 crore in the year-ago period, he added.

To sustain the company's performance, Nucleus will hire a total of 250 people in the current fiscal.

"We will hire 150 freshers and about 100 experienced hands in this fiscal to sustain our performance and expand the workforce," Dusad said.

The firm had a headcount of 1,500 as of March 31, 2013.

For the entire 2012-13 fiscal, Nucleus's consolidated net profit rose to Rs 45.17 crore from Rs 35.34 crore in the 2011-12 fiscal.

Its consolidated total income increased to Rs 293.75 crore from Rs 282.25 crore in the review period.

The firm expanded its global foot print and entered into new major financial hubs of South Africa and Switzerland, Dusad noted.

"We added four new clients in the January-March quarter and a total of 20 clients in the entire 2012-13 fiscal taking the total customer count to over 150," he added.

On the outlook he said the global environment is cautiously optimistic, but scenario is improving.

"We are seeing positive signals from the US and Europe is also showing signs of stabilising, which is overall good for the companies," Dusad added.

Nucleus Software provides software solutions for banks and financial institutions globally, specially in the retail lending and cash management divisions.