Nucleus Software posts PAT of Rs 36 cr on revenue of Rs 128 cr

ANI
10 Aug 2020, 16:55 GMT+10

New Delhi [India], Aug 10 (ANI): Nucleus Software has posted a net profit after tax of Rs 36 crore on a consolidated revenue at Rs 128 crore in the first quarter of the current financial year.

In the same period of the previous year, it had clocked a net profit or Rs 17 crore on a revenue of Rs 124 crore.

The product business revenue was at Rs 107 crore in Q1 FY21 as compared to Rs 97 crore in Q1 FY20 while earnings before interest, tax, depreciation and amortisation (EBITDA) moved up from Rs 18 crore to Rs 37 crore.

Earnings per share came at Rs 12.51 in comparison to Rs 5.71 in the same period. The company won six product orders and a total of eight module implementations went live worldwide during the quarter.

Cash and cash equivalents including investments in debt schemes of mutual funds, fixed deposits with banks and tax-free bonds were Rs 613 crore as on June 30 as against Rs 559 crore last year.

"Financial institutions all over the world are re-evaluating their digital transformation programs and as leaders in digital lending and transaction banking we have been guiding our customers' strategies," said Chief Executive Officer R P Singh.

"We are using our expertise to anticipate what they need before they know they need it and we are creating solutions to help," he said in a statement on Monday.

Nucleus Software supports retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas for more than 150 companies in 50 countries. (ANI)

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