Nucleus Software Announces Q2 FY 11

Printer-friendly versionPDF version

New Delhi, October 25, 2010: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), announced its Q2 results for financial year 2010-2011.

New Delhi, October 25, 2010: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), announced its Q2 results for financial year 2010-2011.

Nucleus Software's consolidated revenue for the quarter ending September 30, 2010, is at Rs. 70.19 crore in comparison to Rs. 70.75 crore in the corresponding quarter of the previous year. With total expenses at Rs. 58.48 crore in comparison to Rs. 58.80 crore in the corresponding quarter of the previous year, the consolidated EBITDA is at Rs. 11.71 crore in comparison to Rs. 11.95 crore in the corresponding quarter of the previous year. Net profit after tax (PAT) is at Rs. 8.90 crore in comparison to Rs. 9.88 crore in the corresponding quarter of the previous year.

For the half year ending September 30, 2010, consolidated revenue is at Rs. 136.33 crore in comparison to Rs. 151.29 crore in the corresponding half-year period in the previous year. With total expenses at Rs. 119.91 crore in comparison to Rs. 123.33 crore in the corresponding half-year period in the previous year, the consolidated EBITDA is at Rs. 16.42 crore in comparison to Rs. 27.98 crore in the corresponding half-year period in the previous year. Net Profit after tax (PAT) is at Rs. 14.19 crore in comparison to Rs. 20.01 crore in the corresponding half-year period in the previous year.

Highlights

Quarter Ended September 30, 2010
- Consolidated revenue at Rs. 70.19 crore from software products and software development services in comparison to Rs. 70.75 crore in the corresponding quarter of the previous year.
- Product business revenue for the quarter at Rs. 50.58 crore in comparison to Rs. 39.07 crore in the corresponding quarter of the previous year.
- EBITDA at Rs. 11.71 crore in comparison to Rs. 11.95 crore in the corresponding quarter of the previous year.
- Net Profit after Tax (PAT) at Rs. 8.90 crore in comparison to Rs. 9.88 crore in the corresponding quarter of the previous year.
- Earning per Share for the quarter at Rs. 2.75 in comparison to Rs. 3.05 in the corresponding quarter of the previous year.

Half- Year Ended September 30, 2010

- Consolidated revenue at Rs. 136.33 crore from software products and software development services in comparison to Rs. 151.29 crore in the corresponding half- year of the previous year.
- Product business revenue at Rs. 93.53 crore in comparison to Rs. 86.38 crore in the corresponding half-year of the previous year.
- EBITDA at Rs. 16.42 crore in comparison to Rs. 27.98 crore in the corresponding half-year of the previous year
- Net Profit After Tax (PAT) at Rs. 14.19 crore in comparison to Rs. 20.01 crore in the corresponding half-year of the previous year.
- Earning Per Share for the half-year at Rs. 4.39 in comparison to Rs. 6.18 in the corresponding half-year of the previous year.

Vishnu R Dusad, CEO and Managing Director, Nucleus Software said: “There is a strong growth momentum building up with banks realizing the significance of technology in aiding calculated decisions/risks. As an IPR-led company we are well poised to ride the growth wave and align our intellectual capital to the dynamic requirements of the banking sector.”

Niraj Vedwa, COO, Nucleus Software said, “We are continuing our order win momentum with 15 product orders in this quarter. With our new organizational structure in place, we will be able to scale our delivery capability to execute these orders. Our highest focus is to increase market share and enter new geographies; with increased operational efficiencies and productivity.

Other Key Information

For the Quarter Ended September 30, 2010
• 15 new order wins in the second quarter of the fiscal year
• 9 new customers added
• Won orders for 44 new product modules
• 5 product modules successfully implemented across the globe.
• Global strength of employees as on September 30, 2010 is 1562
• New campus announced in Jaipur, to be operational in FY 2011

For the Half-Year Ended September 30, 2010
• 30 new orders in the first six months of the fiscal year
• 23 new customers added
• Won orders for 92 new product modules
• 11 product modules successfully implemented across the globe
• Global strength of employees as on September 30, 2010 is 1562

New Client Wins
This quarter we added 9 new customers and bagged 15 new orders for implementing 5 product modules in the second quarter of FY 2010-11, from leading financial institutions in India, Middle East, Africa, South East Asia and Japan. This region has immense potential in terms of growth in the banking sector and institutions, both large and small, are increasingly realizing the importance of technology in enhancing businesses.

Successful Global Implementations:
This quarter 44 product modules went live in various markets across the globe. Some of the implementations were completed in record time. This further gave increased visibility to Nucleus in the global markets, and reaffirmed its standing in the global lending and cash management space.

About Nucleus Software Exports Limited
Nucleus Software is a leading software powerhouse providing innovative and pioneering software solutions for Banks and Financial organizations globally. Nucleus Software offers a host of competitive IT solutions and consultancy services designed to support the whole spectrum of business offerings across retail banking, corporate banking, cards and cash management. With over 150 customers across the globe, the company is consistently innovating with cutting edge and industry driven products in the domain. Nucleus Software is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit www.nucleussoftware.com