October 19, 2004 | Press Release

Nucleus Q2 profit up 61% - CIOL.com

Revenue up by 19% to Rs 24.15 crore in comparison to the corresponding period last year.

Tuesday, October 19, 2004
HYDERABAD: Nucleus Software Exports Ltd has posted a 61 percent increase in profit after tax (PAT) for the second quarter ended September 30, 2004 to Rs 3.38 crore as compared to Rs 2.10 crore for the corresponding quarter in the previous year.

The company's consolidated revenue increased by 18.78 percent to Rs 24.15 crore for the quarter ended September 30, 2004 as compared to Rs 20.33 crore for the corresponding quarter of the previous year. For the half year, the consolidated revenue increased by 16.88 percent to Rs 45.01 crore as compared to Rs 38.51 crore for the first half of pervious year. The PAT increased to Rs 6.32 crore as compared to Rs 3.64 crore as compared to the first half of previous year.

Commenting on the company's results, Nucleus MD Vishnu R Dusad said, "Revenue growth is positive for the quarter and the half year and there is significant increase as compared to the corresponding period of the previous year. We continue to be optimistic about the full year, with increasing focus on product sales." CyberMedia News

Nucleus Software Q2 net up 61% -sify.com .

Tuesday, 19 October 2004, 08:41

Nucleus Software Exports Ltd has reported 61 per cent rise in net profit for the second quarter ended September 30 to Rs 3.38 crore from Rs 2.10 crore in the year-ago period.

Consolidated revenues rose by 18.78 per cent to Rs 24.1 crore compared to Rs 20.33 crore earlier.

Vishnu R. Dusad, Managing Director, said: "Revenue growth is positive for the quarter and half-year and there is significant increase compared to the corresponding period of the previous year. We continue to be optimistic about the full year, with increasing focus on product sales."

Nucleus Software Q2 PAT up 61% yoy 10/18/2004 3:38:33 PM IST - India Info line

Nucleus Software Exports Ltd, a leading global provider of next generation software products for the banking and financial sector, announced its Q2 and half year results.

Nucleus Software's consolidated revenue for the quarter ending 30th September 2004 increased by 18.78 per cent to Rs. 241.56 million as compared to Rs203.37mn for the corresponding quarter of the previous year. The Net Profit after Tax (PAT) increased to Rs33.86mn as compared to Rs21.02mn for the corresponding quarter in the previous year.

For the half year, the consolidated revenue increased by 16.88% to Rs450.15mn as compared to Rs385.13mn for the first half of pervious year. The Net Profit after Tax (PAT) increased to Rs63.26mn as compared to Rs36.46mn as compared to the first half of previous year.

Quarter ended September 30, 2004

1. Consolidated revenue increased by 18.78% as compared to corresponding quarter of the previous year.
2. Net Profit after Tax increased by 61.13% in comparison to corresponding quarter of the previous year.
3. EPS for the quarter (adjusted for the bonus issue of 1:1 in August 2004) increased to Rs2.11 from Rs1.32 for the corresponding quarter of the previous year.

Half Year ended September 30, 2004

1. Consolidated revenue increased by 16.88% as compared to corresponding half year of the previous year.
2. Net Profit after Tax increased by 73.51% in comparison to corresponding half year of the previous year.
3. EPS for the half year (adjusted for the bonus issue of 1:1 in August 2004) increased to Rs3.94 from Rs2.30 for the corresponding half of the previous year.

Amongst significant highlights, Nucleus Software announced that he company and its nominees have invested in 10,040,000 Equity Shares of Chennai-based GMAC Financial Services India Limited (GMAC India), the Indian automotive finance operation of General Motors Acceptance Corporation. This represents 25.1% of the equity capital of GMAC India. The total investment by Nucleus Software is around Rs136.5mn. The remaining 74.9% stake in the capital of GMAC India will continue to be held by USbased General Motors Acceptance Corporation (GMAC), a US-based wholly owned subsidiary of General Motors and one of the world's largest financial services companies.

Nucleus Software has entered into a shareholders agreement with GMAC.

Commenting on the investment in GMAC India, Vishnu R. Dusad, Managing Director, Nucleus Software Exports Ltd said, "We are always looking at deepening our understanding of processes within the markets in which our clients operate. We are confident that our stakeholders will receive enhanced value in terms of increased product functionality as well as 'best practices' to be gained from this close working relationship with one of the world's largest financial services company."

Commenting on the company's results, he said, "Revenue growth is positive for the quarter and the half year and there is significant increase as compared to the corresponding period of the previous year. We continue to be optimistic about the full year, with increasing focus on product sales."