August 10, 2020
| Press Release
Nucleus Software announces Q1 FY21 Financial Results
New Delhi, August 10, 2020: 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, 2020. Consolidated revenue for the first quarter of FY 2021 is at Rs. 128.4 crore in comparison to Rs. 124.1 crore in the corresponding quarter of the previous year.
Mr. R P Singh (CEO, Nucleus Software) said, “Financial institutions all over the world are re-evaluating their digital transformation programs and as leaders in digital lending and transaction banking we’ve been guiding our customers’ strategies. We are using our expertise to anticipate what they need before they know they need it and we are creating solutions to help. For example, we created FinnOne Neo myLoan, an AI powered conversational chatbot, which enables lenders to provide self-service on WhatsApp and other instant messaging platforms. I am pleased to share that FinnOne Neo has been recognized as the best-selling Lending solution in India for the third year in a row and the world’s second best-selling Lending solution. FinnAxia was recognised as the world’s third best-selling Transaction Banking Solution in the inaugural Transaction Banking Systems category in the Sales League Table 2020”.
Consolidated results for the first quarter ended 30th June, 2020
- Consolidated revenue at Rs. 128.4 crore, in comparison to Rs. 124.1 crore in corresponding Q1 of the previous year
- Product business revenue at Rs.107.1 crore in comparison to Rs. 97.2 crore in the corresponding Q1 of the previous year
- EBIDTA at Rs. 37.1 crore in comparison to Rs. 17.9 crore in the corresponding Q1 of the previous year
- Net Profit after Tax (PAT) at Rs. 36.3 crore in comparison to Rs. 16.6 crore in the corresponding Q1 of the previous year
- Earnings Per Share at Rs. 12.51 in comparison to Rs. 5.71 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. 613.0 crore as on 30th June, 2020, as against Rs. 559.2 crore on 31st March, 2020.
- Won 6 product orders and total 8 module implementations went live worldwide during the quarter
- Announced the addition of a range of powerful new solutions to its market leading FinnOne Neo digital lending platform. Added myLoan, a new AI powered conversational chatbot for loan self-service and introduced Sales Assist to provide quick digital loan sourcing at retail stores, auto dealerships, lifestyle stores and other points of sale
- Launched the latest version of its award winning lending solution - FinnOne Neo 5.0. This solution offers advanced capabilities to completely digitize and automate the complex lending processes as required in an increasingly virtual world, accentuated by COVID-19
- Hosted webinars for financial services industry leaders in India, the Middle East, Australia and SEA to share insights on the future of lending an increasingly virtualized world and how lenders can React, Adapt and Lead in the evolving situation
- Hosted a webinar on how corporate banks can leverage technology to not just REACT to the immediate customers' concerns around remote banking and liquidity but also ADAPT to a changing world where global supply chains become more local and LEAD in a post-COVID era by enabling hyper-fast and hyper-personalized banking
- FinnOne Neo has been recognized in the lending category as the “#1 Leader” in India and as the “#2 Leader” globally. This is the third year in row that FinnOne Neo achieved the top spot in India. While FinnAxia was recognized as the “#3 Leader” in the inaugural Transaction Banking Systems category in the IBS Sales League Table 2020
- The global strength of employees at Nucleus Software as on 30th June, 2020 stands at 2117 as compared to 2058 as on June 30, 2019