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Nucleus Software posts Q3 net income rise

20 January 2014  |  851 views  |  0 Source: Nucleus Software

Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global software product and solutions provider to the banking and financial services industry, announced its financial results for the quarter ending 31st December, 2013.

The revenue for the third quarter of FY 2014 grew to Rs. 89.96 crore, a growth of 20.54 % from the corresponding quarter of the previous year. Revenue for the first nine months of FY 2014 grew to Rs. 258.54 crore, a growth of 17.34% on a year on year basis.

Commenting on the performance of the third quarter, Mr. Vishnu R. Dusad, CEO and Managing Director, Nucleus Software, said, "We are continuing to register a healthy growth in the current financial year. We are happy to share that our increasing penetration in new markets has given us a positive momentum. Additionally, with the objective of building capabilities for the future, we have been investing in new talent and nurturing the existing talent pool. Our focus on our people has been to ensure quality and achieving perfection while delivering world class products to our customers."

Nucleus Software has announced that its continued focus on building the right talent as a foundation of growth will remain one of its top priorities in the coming quarters. Focusing on integrated talent management for sustained higher performance, the company has recruited a healthy mix of graduate talent and experienced professionals in technology and business management areas. In the current financial year, Nucleus Software has hired over 200 campus graduates and over 190 experienced professionals. In Q3 FY 14, the company hired a mix of over 100 campus graduate and experienced professionals. The organization has started investing in relationships and hiring from top B-Schools in India to strengthen the strategic management and functional business management capabilities across its various teams. Nucleus Software has strengthened its commitment and investment in Talent and Leadership Development initiatives to build leadership capability for the future across all levels in the organization.

FINANCIAL HIGHLIGHTS

• Consolidated results for the quarter ended 31st December, 2013
• Revenue for the quarter stood at Rs. 89.96 crore from software products and solutions in comparison to Rs. 74.63 crore in the corresponding Q3 of the previous year.
• Product business revenue for the quarter was at Rs. 61.41 crore in comparison to Rs. 49.67 crore in the corresponding Q3 of the previous year.
• EBITDA for the quarter stood at Rs. 19.45 crore in comparison to Rs. 12.51 crore in the corresponding Q3 of the previous year.
• Net Profit after Tax (PAT) stood at Rs. 23.39 crore in comparison to Rs. 12.33 crore in the corresponding Q3 of the previous year.
• Earnings Per Share (EPS) for the quarter is at Rs. 7.22 in comparison to Rs. 3.81 in the corresponding Q3 of the previous year.

Consolidated results for the nine months ended 31st December, 2013

• Revenue at Rs. 258.54 crore from software products and software development services in comparison to Rs. 220.32 crore in the corresponding nine months of the previous year.
• Product business revenue at Rs. 178.84 crore in comparison to Rs. 148.07 crore in the corresponding nine months of the previous year.
• EBIDTA at Rs. 46.49 crore in comparison to Rs. 33.63 crore in the corresponding nine months of the previous year.
• Net Profit after Tax (PAT) at Rs. 45.50 crore in comparison to Rs. 34.72 crore in the corresponding nine months of the previous year.
• Earnings Per Share at Rs. 14.05 in comparison to Rs. 10.72 in the corresponding nine months of the previous year. 

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