July 18, 2018
| Press Release
Nucleus Software announces Q1 FY19 Financial Results
Continuous focus on innovation; enabling banks and financial institutions to leverage the power of digital transformation
New Delhi, July 18, 2018: 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, 2018.
Consolidated revenue for the first quarter of FY 2019 is at Rs. 112.6 crore in comparison to Rs. 94.3 crore in the corresponding quarter of the previous year.
Commenting on the results, Vishnu R Dusad (Managing Director, Nucleus Software) said,”Our relentless focus on leveraging innovative technologies to deliver business value continues to yield results – our Lending Analytics and FinnOne Neo Cloud solutions continue to gain traction in the market. In fact, I am delighted to report that we have now 19 customers for our cloud solution. Our Innovation Labs are creating innovative business solutions using the latest technologies including AI, chatbots and virtual reality. Our digital transformation strategy aligns very well with the strategic direction of banks and other financial institutions”.
Consolidated results for the first quarter ended 30th June, 2018
- - Consolidated revenue at Rs. 112.6 crore, in comparison to Rs. 94.3 crore in corresponding Q1 of the previous year
- - Product business revenue at Rs. 90.2 crore in comparison to Rs. 73.2 crore in the corresponding Q1 of the previous year
- - EBIDTA at Rs. 18.3 crore in comparison to Rs. 10.2 crore in the corresponding Q1 of the previous year
- - Net Profit after Tax (PAT) at Rs. 17.6 crore in comparison to Rs. 11.5 crore in the corresponding Q1 of the previous year
- - Earnings Per Share at Rs. 6.06 in comparison to Rs. 3.56 in the corresponding Q1 of the previous year
Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds, etc. are at Rs. 479.8 crore as on 30th June, 2018, as against Rs. 503.7 crore on 30th June, 2017.
- - Added 3 new customers in the quarter from various geographies
- - Won 6 new orders worldwide including 1 in Americas, 4 in India and 1 in Middle East
- - Went live with 16 product module implementations during the quarter
- - Selected by HDB Financial Services Limited (HDBFS), for implementing lending analytics solution to help them leverage the insights provided by their data and make faster and more informed lending decisions.
- - Launched Mobile based Lending platform -FinnOne Neo mFin- for microfinance. This solution is designed to help micro lenders provide easy, fast and digitized access to micro credit, anytime, anywhere.
- - Presented views on how Microfinance companies can address the market challenges, innovate and transform their businesses with next generation digital lending solutions, powered by analytics in South Africa
- - Hosted an online, interactive roundtable webinar on ‘Driving Innovation in lending with cloud’ in association with Dun & Bradstreet
- - Organized the largest global Government event, the GCC Smart Government & Smart Cities Conference is a global platform dedicated to shaping the future of governments worldwide in Dubai
- - Organized a conference with the theme of Driving Innovation in Loan Collections – Profitable, Smarter & Customer Oriented in Hanoi and Ho Chi Minh City, Vietnam
- - Participated in the 10th annual BankTech Asia Sri Lanka Conference & Exhibition in Colombo
- - Attended the 3rd NBFC100 Tech Summit in Delhi and shared views on how cloud technology can help Indian NBFCs in shaping the future of lending by providing customer centric loan services, making better credit decision, quickly scaling operations and beating the competition in the changing regulatory landscape
- - Organized a conference on ‘Driving Innovation in Lending – Digital, Personal, Analytical’ in association with Mantis Hop in Ghana
- - Organized an industry roundtable, for banks & NBFCs, on ’Lending with Analytics & AI: Profitable, Smarter & Customer-oriented’ in Mumbai in association with Dun & Bradstreet.