New Delhi, India, Jan 29, 2021: 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, 2020.
Consolidated revenue for the third quarter of FY21 is at Rs. 124.0 crore compared to Rs. 130.3 crore in Q3 of the previous year. Revenue for the first nine months of FY21 is at Rs. 389.4 crore, against Rs. 382.6 crore in the corresponding nine months of FY20.
Mr. RP Singh (CEO, Nucleus Software) said, “Our number 1 priority continues to be helping our customers successfully execute their digital transformation programs, while delivering tremendous value to their business. I am proud to report that, during the quarter, we added 3 new customers and our solutions were successfully implemented by 9 financial institutions worldwide. In addition, we launched the latest version of our award winning digital lending platform – FinnOne Neo 5.5, which is designed specifically to help lenders rapidly expand business operations and generate new digital revenue streams by targeting new customer segments. We were also delighted to win the ‘Best Technological Innovation in Payments (B2B) award’ for FinnAxia at the Seamless Middle East 2020 in Dubai. We launched the latest version of our integrated global transaction banking solution – FinnAxia 7.5 to help banks increase corporate supply chain resiliency in the Covid-19 world. I am proud to report that our digital cash solution – PaySe, has been selected by the Reserve Bank of India (RBI) for inclusion in India’s first Regulatory Sandbox on retail payments. PaySe is one of only 2 solutions that were ready to immediately start testing under the program. ”
“I am happy to share that the Board of Directors has appointed Parag Bhise as the new Chief Executive Officer effective from April 1, 2021 as I retire having reached my retirement age. I will continue as an Executive Director of the Company. Anurag Mantri (Additional Executive Director) has been appointed as the Chief Financial Officer with immediate effect. Both Parag and Anurag have been with Nucleus Software for more than two decades, and I am certain that under their leadership Nucleus will continue to focus on what it does best – helping our customer succeed by developing innovative technologies ”, he further added.
Financial Highlights
Consolidated results for the Quarter ended 31st December, 2020
- Consolidated revenue for the quarter stood at Rs. 124.0 crore in comparison to Rs. 130.3 crore in the corresponding Q3 of the previous year.
- Product business revenue for the quarter was at Rs. 103.2 crore in comparison to Rs. 103.9 crore in the corresponding Q3 of the previous year.
- EBIDTA for the quarter stood at Rs. 26.1 crore in comparison to Rs. 23.4 crore in the corresponding Q3 of the previous year.
- Net Profit after Tax (PAT) stood at Rs. 24.8 crore in comparison to Rs. 23.2 crore in the corresponding Q3 of the previous year.
- Earnings Per Share for the quarter is at Rs. 8.55 in comparison to Rs. 7.99 in the corresponding Q3 of the previous year.
Consolidated results for the nine months ended 31st December, 2020
- Consolidated revenue stood at Rs. 389.4 crore in comparison to Rs. 382.6 crore in the corresponding nine months of the previous year.
- Product business revenue at Rs. 325.0 crore in comparison to Rs. 302.4 crore in the corresponding nine months of the previous year.
- EBIDTA stood at Rs. 96.6 crore in comparison to Rs. 61.9 crore in the corresponding nine months of the previous year.
- Net Profit after Tax (PAT) stood at Rs. 90.6 crore in comparison to Rs. 60.9 crore in the corresponding nine months of the previous year.
- Earnings Per Share at Rs. 31.20 in comparison to Rs. 20.96 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. 673.3 crore as on 31st December, 2020, as against Rs. 531.9 crore on 31st December, 2019.
Business Highlights:
- Added 3 new customers, our solutions were successfully implemented by 9 financial institutions worldwide.
- Won 5 product orders from various geographies during the quarter.
- Appointed Parag Bhise (Whole Time Director) as the Designated Chief Executive Officer (CEO).
- Appointed Anurag Mantri (Additional Executive Director) as the Chief Financial Officer and Key Managerial Personnel of the Company.
- Cholamandalam Investment and Finance Company Limited (Chola) has successfully gone live with Nucleus Software’s advanced co-lending solution.
- Launched the latest version of its award winning digital lending platform – FinnOne Neo 5.5. The new version has been designed specifically to help lenders rapidly expand business operations and generate new digital revenue streams by targeting new customer segments. It will also enhance their digital portfolio rapidly and deliver end-to-end contactless banking.
- Released the latest version of our integrated global transaction banking solution – FinnAxia 7.5 to help banks increase corporate supply chain resiliency in the Covid-19 world.
- Won the “Best Technological Innovation in Payments (B2B)” award at the Seamless Middle East 2020 conference in Dubai.
- Hosted a webinar on ‘Lending in a Virtual World’for the leading banks and NBFCs globally.
- Demonstrated expertise on how lending is evolving in an increasingly virtual world and how technology can help banks and other financial services companies build personalized relationships, make informed credit decisions and use AI in collections at the Australian Banking Innovation Summit 2020 (ABIS).
- The global strength of employees at Nucleus Software as on December 31st 2020 stood at 1998.
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 delivers disruptive Fintech Solutions to 200+ Banks and Financial Institutions across 50 countries supporting Retail, Corporate & SME Finance, Islamic Finance, Automotive Finance, Captive Automotive Finance, Cash Management, Mobile & Internet Banking, Transaction Banking and more. We facilitate over 26 million transactions each day through our globally integrated transaction banking platform. Our lending platform manages US $ 500 billion of loans in India alone, and over US $700 billion of loans globally other than India, while enabling 500,000+ users to log in daily.
Our Flagship Products FinnOne Neo® and FinnAxia® are backed by 3 decades of BFSI domain expertise and an inbuilt AI powered platform to realize the digital transformation goals of FIs worldwide.
- FinnOne Neo®: The next-generation digital lending platform, designed to revolutionize the lending process. FinnOne Neo® is built on an advanced technology platform, empowering financial institutions to streamline their lending operations, enhance customer experiences, and drive business growth.
- FinnAxia®: An integrated global transaction banking suite, trusted by banks worldwide to optimize their transaction banking processes. With FinnAxia®, financial institutions can efficiently manage their cash management, trade finance, liquidity management, and other transaction banking activities on a single platform, thereby improving operational efficiency, visibility, and enhancing client relationships.
- PaySe®: The world’s first online and offline digital payment solution, created with the vision to democratize money. This innovative payment solution offers users a seamless and convenient way to conduct digital transactions, both online and offline, facilitating financial inclusion and empowering individuals and businesses.
- Nucleus Software Services: Our comprehensive suite of services is tailored to assist banks and financial institutions in their digital transformation journey and maintain an optimal technology infrastructure. Through Nucleus Software Services, we offer a holistic approach to digital transformation, enabling organizations to deliver seamless customer experiences, achieve operational and cost efficiencies, and gain actionable insights to drive strategic decision-making.
These offerings collectively underline Nucleus Software’s commitment to driving innovation and empowering financial institutions to thrive in an increasingly digital world.
For Media related information, please contact:
Deepika Gulabani
Corporate Communications
Email: deepika.gulabani@nucleussoftware.com
Phone: +91-9310334963