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 30^th 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 30^th 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

• - Company won 3 new product orders worldwide in Q1 FY17
• - 22 product module implementations successfully went live
• - Showcased expertise on digitization in retail lending at Australian Retail Banking Summit 2016 organized by RFi at Sydney, where we presented along with our customer Bank of Queensland (BOQ)
• - Participated as the Thought Leadership sponsor in the3rd Annual West Africa International Retail Banking Dialogue 2016  in Nigeria