October 21, 2016
| Press Release
Nucleus Software announces Q2 FY 2017 Results
Helping banks and financial institutions digitize to provide faster, simpler and more convenient solutions
New Delhi, India, 21 October, 2016: Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its financial results for the quarter ending 30th September, 2016.
Consolidated revenue for the second quarter of FY 17 is at Rs. 95.6 crore compared to Rs. 84.7 crore in Q2 of the previous year. Revenue for the first half year of FY 2017 is at Rs. 185.6 crore, against Rs. 169.5 crore in the corresponding half year of FY 2016.
“To meet their customers’ expectations of personalized, real-time, digital experiences banks and financial institutions are reshaping their business models with a strong focus on digital and analytical capabilities. They realize the urgent need to transform, they understand that technology can be a business enabler and we are continuing to help them take advantage. In the second quarter we saw continuing traction in our cloud business and digital solutions. We have helped customers all over the world go-live, and I’m proud to say that FinnOne, our market leading lending solution helped a leading bank in India win a technology excellence award,’’ said Mr. Vishnu R. Dusad (CEO, Nucleus Software).
Consolidated results for the Quarter ended 30th September, 2016
- - Consolidated revenue for the quarter stood at Rs. 95.6 crore in comparison to Rs. 84.7 crore in the corresponding Q2 of the previous year
- - Product business revenue for the quarter was at Rs. 75.1 crore in comparison to 62.3 crore in the corresponding Q2 of the previous year
- - EBIDTA for the quarter stood at Rs 14.1 crore in comparison to Rs. 1.7 crore in the corresponding Q2 of the previous year
- - Net Profit after Tax (PAT) stood at Rs 13.7 crore in comparison to Rs. 4.5 crore in the corresponding Q2 of the previous year
- - Earnings Per Share for the quarter is at Rs. 4.23 in comparison to Rs. 1.40 in the corresponding Q2 of the previous year
Consolidated results for the half-year ended 30th September, 2016
- - Consolidated revenue stood at Rs. 185.6 crore in comparison to Rs. 169.5 crore in the corresponding half-year of the previous year
- - Product business revenue at Rs. 144.2 crore in comparison to 124.8 crore in the corresponding half-year of the previous year
- - EBIDTA stood at Rs 23.3 crore in comparison to Rs. 6.0 crore in the corresponding half-year of the previous year
- - Net Profit after Tax (PAT) stood at Rs 24.5 crore in comparison to Rs. 11.3 crore in the corresponding half-year of the previous year
- - Earnings Per Share at 7.57 in comparison to Rs. 3.50 in the corresponding half-year 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 are at Rs. 412.0 crore as on 30th September, 2016, as against Rs. 342.6 crore on 30th September, 2015.
- - During the quarter, 10 product module implementations successfully went live across the globe.
- - With the successful implementation of FinnOne at bob Finance, a Zurich-based Fintech company, we built on our existing presence in Europe.
- - Completed FinnOne Neo deployment in the cloud for Shubham Housing Development Finance Company Ltd (SHDFC), providing Shubham with a seamless customer acquisition platform, while streamlining home loan processing and helping them to scale faster.
- - Enabled a large banking group in Mauritius to digitize its retail lending operations across multiple lines of business (LOBS).
- - FinnOne Neo achieved Oracle Exadata Ready and Oracle Exalogic Ready Status.
- - Helped a leading NBFC in South India to improve operational efficiency in loan servicing.
- - Enabled a leading Indian Auto Finance company to digitize its loan collections over mobile channels using FinnOne mCollect.
- - Empowered a leading banking customer in India to win a Technology Excellence Award 2016 for Mobile Loan Collections.
- - Showcased expertise on digitization in transaction banking and demonstrated the latest version of FinnAxia at Sibos 2016, the premier business forum for the global financial community, organized by SWIFT in Geneva.
- - The global strength of employees at Nucleus Software as on 30thSeptember, 2016 stands at 1696 against 1603 as on 30th September, 2015.