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Press Release

Nucleus Software announces Q2 FY 2019 Results

October 29, 2018 | Press Release
  • - Nucleus FinnOne Neo Cloud empowers NBFCs and HFCs to drive digital transformation in lending
  • - Continues to support lenders with digital to extend faster and easy access to financial services

New Delhi, India, October 26, 2018: Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its financial results for the quarter and half year ended 30th September, 2018.


Consolidated revenue for the second quarter of FY19 is at Rs. 121.5 crore compared to Rs.100.4 crore in Q2 of the previous year. Revenue for the first half year of FY19 is at Rs. 234.1 crore, against Rs. 194.8 crore in the corresponding half year of FY18.

 

“I am delighted to report that our business continues to grow, as more customers in more places are seeing the benefits of our revolutionary solutions. In the second quarter, we welcomed 8 new customers, won 10 new product orders and completed 12 product module implementations worldwide. There has been a marked increase in engagement by banks and other financial institutions across all business lines which is reflected in both our signings and pipeline growth. FinnOne Neo Cloud continues to gain tremendous momentum gaining 10 new customers in 2018 alone, bringing the total to 25 today. I expect that many more will soon be using FinnOne Neo Cloud to revolutionize financial services”, said Mr. Vishnu R Dusad (Managing Director, Nucleus Software).

 
Financial highlights:

Consolidated results for the Quarter ended 30th September, 2018

- Consolidated revenue for the quarter stood at Rs. 121.5 crore in comparison to Rs. 100.4 crore in the corresponding Q2 of the previous year

  • - Product business revenue for the quarter was at Rs. 96.0 crore in comparison to Rs. 78.9 crore in the corresponding Q2 of the previous year
  • - EBIDTA for the quarter stood at Rs. 22.8 crore in comparison to Rs. 13.7 crore in the corresponding Q2 of the previous year
  • - Net Profit after Tax (PAT) stood at Rs. 19.1 crore in comparison to Rs. 15.7 crore in the corresponding Q2 of the previous year
  • - Earnings Per Share for the quarter is at Rs. 6.59 in comparison to Rs. 4.93 in the corresponding Q2 of the previous year

Consolidated results for the half-year ended 30th September, 2018

- Consolidated revenue stood at Rs. 234.1 crore in comparison to Rs. 194.8 crore in the corresponding half-year of the previous year

  • - Product business revenue at Rs. 186.2 crore in comparison to Rs. 152.1 crore in the corresponding half-year of the previous year
  • - EBIDTA stood at Rs. 41.1 crore in comparison to Rs. 23.8 crore in the corresponding half-year of the previous year
  • -Net Profit after Tax (PAT) stood at Rs. 36.7 crore in comparison to Rs. 27.2 crore in the corresponding half-year of the previous year
  • -Earnings Per Share at Rs. 12.65 in comparison to Rs. 8.47 in the corresponding half-year of the previous year

 

Liquidity:


Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds are at Rs. 466.9 crore as on 30th September, 2018, as against Rs. 389.9 crore on 30th September, 2017.

 

Business Highlights:

  • - We have added 08 new customers this quarter and won 10 new product orders in various geographies such as Africa, The Middle East and India.
  • - Total 12 product module implementations successfully went live across the globe during the quarter
  • - Announced the successful go live of FinnOne Neo, Nucleus lending software at VietCredit Finance Joint Stock Company (VietCredit) in Vietnam
  • - Presented views on how banks in Thailand can leverage technologies such as artificial intelligence and analytics in payments to enable added security, speed and convenience for their corporate customers at the Asian Banker Future of Finance Summit in Bangkok
  • - Participated at FIBAC 2018, the Annual Global Banking Conference being organized by Indian Banks’ Association (IBA) and Federation of Indian Chambers of Commerce and Industry (FICCI) in Mumbai
  • Shared insights on ‘Artificial Intelligence for Risk Mitigation in an era of Faster Payments’ at the Asian Banker Future of Finance Summit in Indonesia
  • - Showcased expertise on ‘how our solutions can help you become the digital corporate bank of tomorrow - today!’ at the Seamless East Africa Event in Kenya
  • - Demonstrated insights on how banks in Malaysia can leverage technologies such as artificial intelligence and analytics in payments to enable added security, speed and convenience for their corporate customers at the IDC Financial Insights’ FinTech Innovation Summit in Kuala Lumpur
  • - Addressed the session on ‘Transforming Financial Services Beyond Digital’. Nucleus experts shared insights on how to redefine customer experience when everybody goes digital, leverage artificial intelligence (AI), bots and analytics to differentiate offerings and accelerate the digital revenue at the Middle East Banking Innovation Summit 2018, (MEBIS)
  • - Showcased expertise on how our solutions can help you become the digital corporate bank of tomorrow – today, at the Seamless East Africa Event in Kenya
  • - Hosted a seminar on ‘Retail Finance Seminar in Thailand’ in association with NSSOL in Bangkok
  • Shared insights on how cloud technology can help Indian NBFCs in providing end-to-end digital loan services for a speedy, cost effective and convenient customer experience at the 5th Microfinance & NBFCs Exhibition (MiNE 2018) in Kolkata
  • - Participated at The New Age Banking Summit (NABS 2018) Nigeria in Lagos, Nigeria and demonstrate how Nucleus can help you benefit from digital and innovation in lending while serving your customers better
  • - Attended an exclusive banking and financial services industry event in Indonesia on – ‘Driving Innovation in Lending: Jakarta 2018’
  • - The global strength of employees at Nucleus Software as on 30thSeptember, 2018 stands at 2082 against 1802 as on 30th September, 2017.

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