Nucleus Software Announces Strong Financial Results for Q1 FY 2023-24

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Nucleus Software Continues Its Growth Trajectory in Q1 FY 2023-24

August 4, 2023

Key Highlights of the Q1 FY 2023-24

➢ Revenues in Q1 FY 2023-24 at Rs. 206.81 Crores on a consolidated basis.
➢ EBIDTA in Q1 FY 2023-24 at Rs. 62.33 Crores on a consolidated basis.
➢ PAT in Q1 FY 2023-24 at Rs. 53.56 Crores on a consolidated basis.

Nucleus Software, the BSE & NSE listed, India’s leading provider of lending and transaction banking solutions to the global financial services industry, announced its financial results on  August 4, 2023, for the first quarter ended on June 30, 2023.

The revenues on a consolidated basis are at Rs. 206.81 Crore for the quarter ended 30th June 2023 as against Rs. 128.84 Crore in Q1 of FY 2022-23. PAT in Q1 of FY 2023-24 stood at Rs. 54.88 Crore on a standalone basis as against Rs. 13.17 Crore in Q1 of FY 2022-23. The PAT on a consolidated basis was at Rs. 53.56 Crore, as against Rs. 10.77 Crore in Q1 of FY 2022-23. The basic EPS on standalone basis during this period was Rs. 20.50 as against Rs. 4.92 in FY 2022-23. The EPS on a consolidated basis stood at Rs. 20 in Q1 of 2023-24 as against Rs. 4.02 in Q1 of FY 2022-23.

Our Q1 FY 2023-24 financial results underscore our unwavering dedication to providing exceptional value to our esteemed customers. Throughout our Indian IP Journey, their trust in our products and services has been pivotal to our achievements. As we navigate the dynamic financial landscape, we remain steadfast in our commitment to innovation and continuously delivering robust and cutting-edge technologies that empower our customers to adapt and excel ”, says Mr. Vishnu R Dusad, MD, Nucleus Software.

Alongside innovating and investing in upgrading our platforms we ensure that our customers stay ahead of the technology curve. Nucleus Software attaches considerable importance to financial inclusivity. We believe that access to credit should not be limited to a select few but should be made available to all, regardless of their background or financial status. Our commitment to financial inclusivity extends beyond traditional lending practices, as we continuously explore new avenues to reach underserved communities to bridge the gap in access to credit thus enabling equitable growth.

In the forthcoming quarter, Nucleus Software will continue focusing on delivering advanced and robust technology for the Banking, Financial Services, and Insurance (BFSI) sector, with a firm focus on delivering significant value and unique innovative solutions. As a customer-centric company, we have a thorough understanding of our customers’ diverse requirements, especially in technologies such as AI/ML and composable architecture that integrates them seamlessly and securely with the financial ecosystem.

Our innovative products are well-positioned to play a pivotal role in driving the digital transformation of the banking landscape. We are excited about the current dynamic banking landscape and see a huge potential for growth and creating a positive impact on shaping the future of the banking industry ”, says Mr. Parag Bhise, CEO, Nucleus Software.

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.

  1. 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.
  2. 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.
  3. 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.
  4. 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
Phone: +91-9310334963