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Press Release
Nucleus Software announces Q1 FY18 Financial Results
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.”
Financial Highlights:
Note:
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
- - Consolidated revenue at Rs. 94.3 crore, in comparison to Rs. 90.0 crore in corresponding Q1 of the previous year
- - Product business revenue at Rs. 73.2 crore in comparison to Rs. 69.2 crore in the corresponding Q1 of the previous year
- - EBIDTA at Rs. 10.2 crore in comparison to Rs. 9.9 crore in the corresponding Q1 of the previous year
- - Net Profit after Tax (PAT) at Rs. 11.5 crore in comparison to Rs. 12.4 crore in the corresponding Q1 of the previous year
- - Earnings Per Share at Rs. 3.56 in comparison to Rs. 3.84 in the corresponding Q1 of the previous year
Liquidity:
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.
Business Highlights:
- Won 3 new product orders worldwide and added 1 new customer in Q1 FY18
- - Went live with 21 product module implementations during the quarter
- - Selected by Essel Home Loans Ltd., the new housing finance subsidiary of Essel Finance for implementing FinnOne Neo, the award winning loan life cycle management solution in cloud
- - Manappuram Home Finance Pvt. Limited went successfully live with FinnOne Neo Cloud to digitize and automate their lending businesses in order to serve their customers better
- - Released the latest version of Lending Mobility Solution, mCollect, which now offers support for Unified Payments Interface (UPI) based loan payment collections
- - Sponsored the Australian Retail Banking Summit 2017, with the overarching theme of “Retail: Ripe for Revolution” in Australia
- - Hosted a roundtable discussion around “Profiting from Transaction Banking - Converting Challenges into Opportunities” at Asian Banker’s Future of Finance Summit 2017 in Singapore
About Nucleus Software
Nucleus Software powers the operations of more than 200 Financial Institutions in over 50 countries, supporting retail lending, corporate banking, cash management, mobile and internet banking, automotive finance and other business areas. Its products facilitate more than 26 million transactions each day, managing over US $ 500 billion of loans and enabling more than 500,000 users logging in daily.
Nucleus Software’s flagship products, built on the latest technology are:
- FinnOne NEOTM : The next-generation digital lending solution that is built on an advanced technology platform.
- FinnAxiaTM : An integrated global transaction banking solution used by banks worldwide.
- PaySeTM : The world’s first online & offline digital payment solution created with an aim to democratize money.
For Media related information, please contact:
Sunil Kumar Singh / Kiran Hans Khowal
Finese PR
Email: nucleus@finesepr.comPhone: +91-9818363518 | +91-8375969143
