Continuous focus on innovation; enabling banks and financial institutions to leverage the power of digital transformation
New Delhi, July 24, 2019: 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, 2019. Consolidated revenue for the first quarter of FY 2020 is at Rs. 124.0 crore in comparison to Rs. 112.6 crore in the corresponding quarter of the previous year.
Commenting on the results, Vishnu R Dusad (Managing Director, Nucleus Software) said,”As businesses all over the world continue their digital transformation journeys; our investment in new technologies continues to position us well to help our customers succeed. I am delighted to share that we have added 5 new customers, won 8 new orders and completed 23 product module implementations globally. During the period, we released the latest versions of our leading solutions – FinnOne Neo 4.0 the award winning lending solution and FinnAxia 6.5, the end to end transaction banking solution. The new version of FinnOne Neo comes with a wide range of features that will help lenders capitalize quickly on rapidly evolving market trends and changing customer requirements and, above all, to turn the digital opportunities into profits. Among the many advances in FinnAxia 6.5, we introduced a revolutionary Artificial Intelligence enabled payments anomaly detector. We continue to be delighted by the rapid growth and adoption of FinnOne Neo Cloud in the market.”
Consolidated results for the first quarter ended 30th June, 2019
- Consolidated revenue at Rs. 124.0 crore, in comparison to Rs. 112.6 crore in corresponding Q1 of the previous year
- Product business revenue at Rs. 97.2 crore in comparison to Rs. 90.2 crore in the corresponding Q1 of the previous year
- EBIDTA at Rs. 17.9 crore in comparison to Rs. 18.3 crore in the corresponding Q1 of the previous year
- Net Profit after Tax (PAT) at Rs. 16.6 crore in comparison to Rs. 17.6 crore in the corresponding Q1 of the previous year
- Earnings Per Share at Rs. 5.71 in comparison to Rs. 6.06 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 bonds, etc. are at Rs. 523.1 crore as on 30th June, 2019, as against Rs. 498.5 crore on 31st March, 2019.
- Added 5 new customers in the quarter from various geographies
- Won 8 new orders worldwide including 1 in Australia and 7 in India
- Went live with 23 product module implementations during the quarter
- Launched the latest version of its award winning lending solution - FinnOne Neo 4.0. The new version comes with a wide range of features that will help lenders capitalize quickly on rapidly evolving market trends and changing customer requirements and, above all, to turn the digital opportunities into profits
- Launched upgraded version of our transaction banking solution - FinnAxia (GA 6.5), empowering banks to embrace Artificial intelligence and weave it into their business strategy
- Presented views on how FinnOne Neo is helping NBFCs drive innovation in lending at the 7th NBFC100 Tech Summit, Chennai
- Organized an industry roundtable for Banks & NBFCs in Mumbai on ‘The Road Ahead for Corporate Lending’ in association with Dun & Bradstreet.
- Exhibited at the Digital Banking Summit in Texas and demonstrated views on how our transaction banking product suite enables leading banks worldwide to swiftly address their corporate customers' ever changing requirements, thus consolidating their position as the customers’ principal banks
- Attended the Australian Banking Innovation Summit 2019(ABIS) being hosted by the RFi Group, shared thoughts on topic “Banking Today – Inflection Point, Tipping Point or Point of No Return?”
- Participated as the technology partner at the 8thMicrofinance & NBFCs Exhibition cum Conference (MiNE 2019) in Chennai.