Nucleaus software reported 53% increase in consolidated profit in q1 fy19
Shalini | Myequity news | Date : 19-07-2018 16:30:00 IST
Nucleus Software, is a Global Banking Software Products and Solutions Provider to the global financial services industry, announced its consolidated results for the first quarter ended on June 30, 2018. Consolidated revenue for the first quarter of FY 2019 is at Rs. 112.6 crore in comparison to Rs.94.3 crore in the corresponding quarter of the previous year.
Vishnu R Dusad, Managing Director, Nucleus Software said,”Our relentless focus on leveraging innovative technologies to deliver business value continues to yield results – our Lending Analytics and FinnOne Neo Cloud solutions continue to gain traction in the market. In fact, I am delighted to report that we have now 19 customers for our cloud solution. Our InnovationLabs are creating innovative business solutions using the latest technologies including AI, chatbots and virtual reality. Our digital transformation strategy aligns very well with the strategic direction of banks and other financial institutions”.Financial highlights:
• Consolidated revenue at Rs. 112.6 crore, in comparison to Rs. 94.3 crore in corresponding Q1 of the previous year.
• Product business revenue at Rs. 90.2 crore in comparison to Rs. 73.2 crore in the corresponding Q1 of the previous year.
• EBIDTA at Rs. 18.3 crore in comparison to Rs. 10.2 crore in the corresponding Q1 of the previous year.
• Net Profit after Tax (PAT) at Rs. 17.6 crore in comparison to Rs. 11.5 crore in the corresponding Q1 of the previous year.
• Earnings Per Share at Rs. 6.06 in comparison to Rs. 3.56 in the corresponding Q1 of the previous year.Business Highlights:
• Added 3 new customers in the quarter from various geographies.
• Won 6 new orders worldwide including 1 in Americas, 4 in India and 1 in Middle East.
• Went live with 16 product module implementations during the quarter.
• Selected by HDB Financial Services Limited (HDBFS), for implementing lending analytics solution to help them leverage the insights provided by their data and make faster and more informed lending decisions.
• Launched Mobile based Lending platform -FinnOne Neo mFin- for microfinance. This solution is designed to help micro lenders provide easy, fast and digitized access to micro credit, anytime, anywhere.
• Presented views on how Microfinance companies can address the market challenges, innovate and transform their businesses with next generation digital lending solutions, powered by analytics in South Africa.
• Hosted an online, interactive roundtable webinar on ‘Driving Innovation in lending with cloud’ in association with Dun & Bradstreet.
• Organized the largest global Government event, the GCC Smart Government & Smart Cities Conference is a global platform dedicated to shaping the future of governments worldwide in Dubai.
• Organized a conference with the theme of Driving Innovation in Loan Collections – Profitable, Smarter & Customer Oriented in Hanoi and Ho Chi Minh City, Vietnam.
• Participated in the 10th annual BankTech Asia Sri Lanka Conference & Exhibition in Colombo.
• Attended the 3rd NBFC100 Tech Summit in Delhi and shared views on how cloud technology can help Indian NBFCs in shaping the future of lending by providing customer centric loan services, making better credit decision, quickly scaling operations and beating the competition in the changing regulatory landscape.
• Organized a conference on ‘Driving Innovation in Lending – Digital, Personal, Analytical’ in association with Mantis Hop in Ghana.
• Organized an industry roundtable, for banks & NBFCs, on ’Lending with Analytics & AI: Profitable, Smarter & Customer-oriented’ in Mumbai in association with Dun & Bradstreet.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 than150 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.
Nucleus Software Exports Ltd closed 1.27% down at Rs 364.00