- FinnOne Neo Cloud empowered NBFCs and HFCs to drive transformation in lending
New Delhi, India, Jan 29, 2019: 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 nine months ended 31st December, 2018.
Consolidated revenue for the third quarter of FY19 is at Rs. 122.9 crore compared to Rs. 106.0 crore in Q3 of the previous year. Revenue for the nine months of FY19 is at Rs. 357.0 crore, against Rs. 300.8 crore in the corresponding nine months of FY18.
Mr. Vishnu R. Dusad (Managing Director, Nucleus Software) said, “Q3 continued to build on the momentum we’ve seen in the first two quarters, with 4 new customers, 5 new product orders and 27 product module implementations worldwide. As businesses all over the world continue to their digital transformation journeys, our investment in new technologies has positioned us well to deliver more value to our customers. We witnessed solid traction for our corporate banking solution – FinnAxia, as there has been a marked increase in engagement with many leading banks and other financial institutions globally.
We are also encouraged by the continued growth and adoption of FinnOne Neo Cloud in the market. We are delighted to win the ’Best Cloud Lending Solution’ and also one of our cloud implementations received ‘Best Lending Technology Implementation of the Year’ at the BFSI Innovative Technology Awards 2018. It demonstrates the tremendous impact that the combination of innovative technology and customer-centric business strategies can have on financial services,” Mr. Dusad, further added.
Consolidated results for the Quarter ended 31st December, 2018
- Consolidated revenue for the quarter stood at Rs. 122.9 crore in comparison to Rs. 106.0 crore in the corresponding Q3 of the previous year
Consolidated results for the nine months ended 31st December, 2018
- Consolidated revenue stood at Rs. 357.0 crore in comparison to Rs. 300.8 crore in the corresponding nine months of the previous year
Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks, tax free PSU bonds are at Rs. 480.4 crore as on 31st December, 2018, as against Rs. 430.4 crore on 31st December, 2017