FinnOne Neo Cloud empowered NBFCs and HFCs to drive transformation in lending

New Delhi, India, Jan 30, 2020: 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 31^st December, 2019.

Consolidated revenue for the third quarter of FY2020 is at Rs. 130.3 crore compared to Rs. 122.9 crore in Q3 of the previous year. Revenue for the first nine months of FY20 is at Rs. 382.6 crore, against Rs. 357.0 in the corresponding nine months of FY19.

Mr. Vishnu R. Dusad (Managing Director, Nucleus Software) said, “Our ongoing investment in the latest technologies, including Artificial Intelligence, Digital and Cloud, continues to add value to our customers’ business. Our market-focused, roadmap-driven approach ensures that our customers can take advantage of those enhancements quickly and easily. During the quarter, we showcased our solutions in a range of markets across the world, including Australia, India, Indonesia, Singapore, Nigeria, and the Philippines. In cloud, we added 7 new customers and we were delighted to win the Best Lending Implementation Award by IBS Intelligence. Our Q3 performance is in line with our expectations and it reflects the continued strength of our business in India and internationally.”

Financial highlights:

Consolidated results for the Quarter ended 31^st December, 2019

• Consolidated revenue for the quarter stood at Rs. 130.3 crore in comparison to Rs. 122.9 crore in the corresponding Q3 of the previous year
• Product business revenue for the quarter was at Rs. 103.9 crore in comparison to Rs. 96.7 crore in the corresponding Q3 of the previous year
• EBIDTA for the quarter stood at Rs. 23.4 crore in comparison to Rs. 22.2 crore in the corresponding Q3 of the previous year
• Net Profit after Tax (PAT) stood at Rs. 23.2 crore in comparison to Rs. 20.7 crore in the corresponding Q3 of the previous year
• Earnings Per Share for the quarter is at Rs. 7.99 in comparison to Rs. 7.14 in the corresponding Q3 of the previous year

Consolidated results for the nine months ended 31^st December, 2019

• Consolidated revenue stood at Rs. 382.6 crore in comparison to Rs. 357.0 crore in the corresponding nine months of the previous year
• Product business revenue at Rs. 302.4 crore in comparison to Rs. 282.9 crore in the corresponding nine months of the previous year
• EBIDTA stood at Rs. 61.9 crore in comparison to Rs. 63.3 crore in the corresponding nine months of the previous year
• Net Profit after Tax (PAT) stood at Rs. 60.9 crore in comparison to Rs. 57.5 crore in the corresponding nine months of the previous year
• Earnings Per Share at Rs. 20.96 in comparison to Rs. 19.78 in the corresponding nine months of the previous year

Liquidity:

Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks, tax free bonds and preference shares are at Rs. 531.9 crore as on 31st December, 2019, as against Rs. 506.1 crore on 30th September, 2019.

Business Highlights:

• Gained 07 new customers for FinnOne Neo Cloud in India
• Won 09 new product orders and added 8 new customers worldwide, during the quarter
• 9 product module implementations successfully went live across the globe
• Appointed Prakash Purushottam Pai as Chief Evangelist Officer
• Won the IBS Intelligence FinTech Innovation Award for ‘Best Lending Implementation of FinnOne Neo’ with Roha Housing Finance
• Organized a roundtable in association with Dun & Bradstreet for the Banks & NBFCs, on ‘Co-origination in Lending - The way forward” in Mumbai
• Demonstrated insights on how we help leading organizations drive innovation at Vietnam Retail Banking Forum 2019 in Vietnam
• Organized an industry roundtable for Banks & NBFCs on ‘Profiting from digital in lending with cloud' in Mumbai
• Hosted an industry round table for Banks & NBFCs on ‘The Road Ahead for Corporate Lending’ in Lagos
• Addressed the Mortgage Loans Innovation Conference in Singapore on “Transforming Lending for Tomorrow – Going Beyond digital“