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Nucleus Software Revenues for Q2 up by 54.22%

October 30, 2006 | Equity Bulls
Nucleus Software revenues for Q2 up by 54.22%

Consolidates Product position with Product orders of US$ 6.25 million

INDIA, New Delhi, October 30, 2006 -- Nucleus Software Exports Limited (NSE: NUCLEUS), a leading global provider of next generation software products for banking and financial sector, today announced its Q2 results. Nucleus Software's consolidated revenue for the quarter ending 30th September 2006 increased by 54.22% to Rs.55.09 crore as compared to Rs.35.72 crore for the corresponding quarter of the previous year. Net Profit after Tax (PAT) increased by 57.86% to Rs 13.86 crore as compared to Rs. 8.78 crore for the corresponding quarter of the previous year.

For the half year ending September 30, 2006, consolidated revenue has increased by 52.93% to Rs. 104.85 crore as compared to Rs. 68.56 crore for the corresponding half-year period in the previous year. Net Profit after tax (PAT) increased by 57.03% to Rs. 27.26 crore as compared to Rs. 17.36 crore for the corresponding half-year period in the previous year.

Major Highlights:
Quarter ended 30th September 2006
- Consolidated revenue from software products and software services increased by 54.22% as compared to corresponding quarter of the previous year.
- Net Profit after Tax (PAT) increased by 57.86% as compared to corresponding quarter of the previous year.
- Earning Per Share for the quarter increased to Rs 8.60 from Rs. 5.45 for the corresponding quarter of the previous year. Half Year ended 30th September 2006
- Consolidated revenue from software products and software services increased by 52.93 % as compared to corresponding half-year of the previous year.
- Net Profit after Tax (PAT) increased by 57.03% as compared to corresponding half year of the previous year.
- Earning Per Share for the half year increased to Rs 16.92 from Rs 10.79 for the corresponding half year of the previous year
- Dataquest recently recognized Nucleus Software among the Top 20 Employers in the IT industry
- DQ-IDC Survey 2006
- Nucleus Software added 10 more customers this quarter taking the total number to 134.
- 6 new product orders of US$ 6.25 million booked
- Total headcount at the end of the quarter is 1397.
- Consolidated leadership in Africa and the Middle East regions with multiple product orders

Commenting on the Company’s results, Vishnu R Dusad, Managing Director, Nucleus Software Exports Limited said "We are immensely proud of our performance this quarter. Our healthy results showcase our long standing commitment of being a trusted & leading player in the area of banking and financial services. Our robust organic growth with large wins in alternate markets such as Africa and the Middle East has further strengthened our position in a competitive environment."

Source: Equity Bulls