Results Q1 FY 2016
NSE: NUCLEUS, BSE: 531209
Nucleus Software announces Q1 FY 2016 Results
New Delhi, India, 31 July, 2015: Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its financial results for the quarter ending 30th June, 2015. Consolidated revenue for the first quarter of FY 16 is at Rs. 84.8 crore compared to Rs. 79.4 crore in Q1 of the previous year.
Commenting on the Company’s performance Mr. Vishnu R. Dusad, CEO, Nucleus Software, said: “The first quarter has seen us make good progress on our transformation journey. We will continue the pace of strategic investments as we expand our operations globally, and I am confident that these will pay off as we move forward. Q1 saw the latest version of our lending product suite, FinnOne Neo, go live at a commercial bank. We released new versions of our key products, and continued to grow our marketing and sales activities around the world. Additionally, we continued to build our leadership team with new senior appointments to further advance our growth strategy.”
In the first quarter, the Company launched FinnAxia 2.0, the latest version of its next-generation integrated transaction banking product suite as part of its on-going development program and 6-monthly product release cycle. The new product suite includes extended compliance with global and regional regulations and payment standards, increased capabilities for ‘payments on behalf of’ and additional features to support bank customers running corporate shared service centres and outsourced receivables management. The latest product release comprises Global Payments, Global Receivables, Business Internet Banking, Liquidity Management and Financial Supply Chain Management.
As a part of its transformation journey, Nucleus Software saw additions to the senior management in the last quarter. Mr. Ashish Nanda- Global Head, Finance and Accounts has succeeded Mr. Pramod K. Sanghi who retired after 13 years of active service with Nucleus Software. The Company also appointed a General Counsel & Head of IP Licensing for heading the complete legal operations of the organisation.
Consolidated results for the Quarter ended 30th June, 2015
Consolidated revenue at Rs. 84.8 crore, in comparison to Rs. 79.4 crore in corresponding Q1 of the previous year
Product business revenue at Rs. 62.8 crore in comparison to Rs. 56.4 crore in the corresponding Q1 of the previous year
EBIDTA at Rs. 4.3 crore in comparison to Rs. 10.1 crore in the corresponding Q1 of the previous year
Net Profit after Tax (PAT) at Rs. 6.8 crore in comparison to Rs. 11.7 crore in the corresponding Q1 of the previous year
Earnings Per Share at Rs. 2.10 in comparison to Rs. 3.60 in the corresponding Q1 of the previous year
Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds are at Rs. 351.5 crore as on 30th June, 2015, as against Rs. 319.7 crore on 30th June, 2014.
For the Quarter ended 30th June, 2015:
The Company won 1 new product order worldwide
One new customer was added to the count of more than 150 customers across the globe
Seven product module implementations successfully went live
The global strength of employees at Nucleus Software as on 30th June, 2015 stands at 1581 against 1488 as on 30th June, 2014.
Nucleus Software showcased FinnOne NeoTM, the latest version of its next-generation lending solution at ABTEC 2015. The Company shared its global expertise in retail lending through a session titled, “The essential guide to building a World Class retail lending operation”.
The Company exhibited at the ENG's Automotive Finance Summit in Amsterdam and showcased its advanced Auto Finance products. For more details, please visit the following page: http://www.nucleussoftware.com/public/news/NucleusSoftware_ENG_Press%20Release%20v1-2.pdf
Nucleus Software exhibited at The Asian Banker International Banking Convention showcasing its next-generation Lending and Transaction Banking solutions at the event in Bangkok, Thailand sharing its global expertise in retail and corporate banking industry. http://www.nucleussoftware.com/public/news/NucleusSoftware_The%20Asian%20Banker_Press%20Release.pdf
To find out more about the Company’s participation at global events, please visit the following page:
On July 31, 2015, the management team at Nucleus Software including Chief Executive Officer, Mr. Vishnu R Dusad will participate in a conference call for Investors and Analysts at 4:00 PM IST.
Details of the Earnings Conference Call are given below:
July 31, 2015
4:00 PM IST
All India Toll Free Number
1800 419 2425
Dial In Access Numbers
011- 6675 4500 /3940 6000
022- 6000 5900/3940 6000
033- 6000 5900/3940 6000
044- 6000 5900/3940 6000
The audio and transcript of this conference call will made available at the Investor section of the website www.nucleussoftware.com
About Nucleus Software
Nucleus Software is the leading provider of lending and transaction banking products to the global financial services industry. Its software powers the operations of more than 150 companies in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas.
Nucleus Software is known for its world-class expertise and innovation in lending and transaction banking technology. It has two flagship products, built on the latest technology:
- FinnOneTM, named the World’s Best Selling Lending System for 7 years running (IBS Publishing).
- FinnAxiaTM, an integrated global transaction banking solution used by banks worldwide to offer
efficient and innovative global payments and receivables, liquidity management and business internet banking services.
Nucleus Software is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, please visit www.nucleussoftware.com.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward -looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, our ability to successfully implement our strategy, our research and development efforts, changes in the value of the Rupee and other currency changes, intense competition in IT and consulting services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed- price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Nucleus may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Board of India, Stock Exchange and our reports to shareholders. The company does not undertake to update any forward- looking statements that may be made from time to time by or on behalf of the company.