Nucleus Software announces Q3 FY 2019 Financial Results, Revenue grew at 16.0% YoY

Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its financial results for the quarter and nine months ended 31^st December, 2018.

Consolidated revenue for the third quarter of FY19 is at Rs. 122.9 crore compared to Rs. 106.0 crore in Q3 of the previous year. Revenue for the nine months of FY19 is at Rs. 357.0 crore, against Rs. 300.8 crore in the corresponding nine months of FY18.

Mr. Vishnu R. Dusad (Managing Director, Nucleus Software) said, “Q3 continued to build on the momentum we’ve seen in the first two quarters, with 4 new customers, 5 new product orders and 27 product module implementations worldwide. As businesses all over the world continue to their digital transformation journeys, our investment in new technologies has positioned us well to deliver more value to our customers. We witnessed solid traction for our corporate banking solution – FinnAxia, as there has been a marked increase in engagement with many leading banks and other financial institutions globally.

We are also encouraged by the continued growth and adoption of FinnOne Neo Cloud in the market. We are delighted to win the ’Best Cloud Lending Solution’ and also one of our cloud implementations received ‘Best Lending Technology Implementation of the Year’ at the BFSI Innovative Technology Awards 2018. It demonstrates the tremendous impact that the combination of innovative technology and customer-centric business strategies can have on financial services,” Mr. Dusad, further added.

Financial highlights:

Consolidated results for the Quarter ended 31^st December, 2018 

• Consolidated revenue for the quarter stood at Rs. 122.9 crore in comparison to Rs. 106.0 crore in the corresponding Q3 of the previous year
• Product business revenue for the quarter was at Rs. 96.7 crore in comparison to Rs. 85.1 crore in the corresponding Q3 of the previous year
• EBIDTA for the quarter stood at Rs. 22.2 crore in comparison to Rs. 18.6 crore in the corresponding Q3 of the previous year
• Net Profit after Tax (PAT) stood at Rs. 20.7 crore in comparison to Rs. 18.1 crore in the corresponding Q3 of the previous year
• Earnings Per Share for the quarter is at Rs. 7.14 in comparison to Rs. 6.24 in the corresponding Q3 of the previous year

Consolidated results for the nine months ended 31^st December, 2018

• Consolidated revenue stood at Rs. 357.0 crore in comparison to Rs. 300.8 crore in the corresponding nine months of the previous year
• Product business revenue at Rs. 282.9 crore in comparison to Rs. 237.1 crore in the corresponding nine months of the previous year
• EBIDTA stood at Rs. 63.3 crore in comparison to Rs. 42.4 crore in the corresponding nine months of the previous year
• Net Profit after Tax (PAT) stood at Rs. 57.5 crore in comparison to Rs. 45.3 crore in the corresponding nine months of the previous year
• Earnings Per Share at Rs. 19.78 in comparison to Rs. 14.58 in the corresponding nine months of the previous year

Liquidity:

Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks, tax free PSU bonds are at Rs. 480.4 crore as on 31st December, 2018, as against Rs. 430.4 crore on 31st December, 2017

Business Highlights:

• Added 04 new customers and won 05 new product orders, during the quarter
• 27 product module implementations successfully went live across the globe
• Gained 28 new customers, including 13 so far in 2018 for FinnOne Neo Cloud
• Presented insights on ‘Artificial Intelligence for Risk Mitigation in the era of Global Faster Payment Systems at the IDC Financial Insights’ at the FinTech Innovation Summit 2018 in Malaysia
• Addressed the 5^th NBFC100 Tech Summit, in Mumbai for leading NBFCs and HFCs to drive innovation in lending
• Speaker  Rural Bankers Association of the Philippines Symposium 2018 for leading Banks in Philippines
• Won award for ’Best Cloud Lending Solution’ at the BFSI Innovative Technology Awards 2018. Also, one of our implementation won the “Best Lending Technology Implementation of the Year”
• Hosted webinar in association with Amazon Web Services (AWS) for NBFCs and HFCs on how they can get ‘future ready’ and drive transformation with a unique combination of business innovation and advanced technology.
• The global strength of employees at Nucleus Software as on 31^st December, 2018 stands at 2072 against 1847 as on 31^st December, 2017.