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Press Release

Nucleus Software announces Q1 FY2017 Results

July 21, 2016 | Press Release

Enabling digitization and business transformation to continually add value to our customers

  

New Delhi, July 21, 2016: Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced its consolidated results for the first quarter ended on June 30, 2016.

 

Consolidated revenue for the first quarter of FY 2017 is at Rs. 90.0 crore in comparison to Rs. 84.8 crore in the corresponding quarter of the previous year.

 

“As the transformation of financial services continues, driven in part by the rise of Fintech companies, we are seeing increasing interest in both digitization and the adoption of cloud. This is translating into some very exciting opportunities. In line with our approach to facilitate the digital transformation of our customers, we are working with many financial institutions in India for cloud-based deployments which will offer them enhanced business agility and reduced time to market,” said Mr. Vishnu R. Dusad, CEO, Nucleus Software.

“We remain fully committed to combining our deep business and technical expertise with innovative solutions that help our customers achieve their business goals. Building on our lending mobility portfolio, which is now processing over 9.7 million transactions worth more than $2.15 billion, we recently launched our lending mobility offering ‘mApply’. The solution enables end customers of Banks and financial institutions to apply for loans in a completely digital manner through mobile and eliminates the need to visit the branch. We are adding value and solving real business needs of our customers,” added Mr. Dusad. 

Key highlights:

  • - PaySe, the world’s first digital cash solution was adjudged a winner for “Democratising cash” in the Reserve Bank of India’s (RBI) Payment Systems Innovation Contest. The contest organised by the Institute for Development and Research in Banking Technology (IDRBT), a wholly owned subsidiary of the Reserve Bank, was aimed at promoting innovation in the area of Payment and Settlement System. PaySe is built to disrupt the payment landscape and make peer to peer digital transactions as easy and effective as cash. Our patent pending offline payment architecture is revolutionary and delivers on our vision of democratizing cash in the same way as MP3 democratized music.
  • - Launched ‘mApply’, an innovative mobile solution that empowers Bank’s loan customers to apply for loans in minutes. mApply supports the bank’s customers and mortgage brokers to compare various loan offers from the bank, select the best offer and submit a paperless loan application within minutes. This process can be easily completed on mobile without any need to visit the bank branch.
  • - Empowered a leading bank in Philippines to add mobile as a new channel for loan sourcing with our lending mobility solution FinnOne mCas
  • - Helped a large financial services group based in Mauritius expand their lending business into Madagascar

Financial highlights:

Consolidated results for the first quarter ended 30th June, 2016

  • - Consolidated revenue at Rs. 90.0 crore, in comparison to Rs. 84.8 crore in corresponding Q1 of the previous year
  • - Product business revenue at Rs. 69.2 crore in comparison to Rs. 62.5 crore in the corresponding Q1 of the previous year
  • - EBIDTA at Rs. 9.2 crore in comparison to Rs. 4.3 crore in the corresponding Q1 of the previous year
  • - Net Profit after Tax (PAT) at Rs. 10.8 crore in comparison to Rs. 6.8 crore in the corresponding Q1 of the previous year
  • - Earnings Per Share at Rs. 3.34 in comparison to Rs. 2.10 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. 394.5 crore as on 30th June, 2016, as against Rs. 351.5 crore on 30th June, 2015.

Business highlights:

- Continuing with our expansion strategy, we have added 1 new customer to the count of more than 150 customers during the quarter

About Nucleus Software

Nucleus Software Exports Ltd. is a publicly traded (BSE: 531209, NSE: NUCLEUS), software product company that provides lending and transaction banking products to global financial leaders.

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 $ 200 billion of loans and enabling more than 200,000 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, designed to shape the future of lending across Retail, Corporate and Islamic sectors for banks and other financial service companies. The 10 time winner of ‘World’s Best Selling Lending Solution’, helps digitize the complete loan lifecycle.
  • FinnAxiaTM : An integrated global transaction banking solution used by banks worldwide to offer efficient and Innovative global payments and receivables, liquidity management and business internet banking services.
  • PaySeTM : The world's first online & offline digital payment solution designed and created with an aim to democratize money by making banking services available to the unbanked in remote geographies.
For more information, please visit : http://www.nucleussoftware.com

For Media related information, please contact:

Sunil Kumar Singh / Kiran Hans Khowal

Finese PR

Email: nucleus@finesepr.com
Phone: +91-9818363518 | +91-8375969143