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Nucleus' net profit up by 26.19 percent in Q1
By siliconindia
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Bangalore: Nucleus Software, a provider of software solutions to banks and financial organizations, reported an increase in net profit after tax (PAT) in Q1 of FY 2010 by 26.19 percent to 
10.13 crore in comparison to 8.03 crore in the corresponding quarter of the previous year. With total expenses at 64.53 crore in comparison to 68.71 crore in the corresponding quarter of the previous year, the consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) has increased to 16.01 crore in comparison to 14.19 crore. Earning Per Share (EPS) for the quarter is at 3.13 in comparison to 2.48 in the corresponding quarter of the previous year.
The company bagged 11 new product orders and acquired seven new customers for implementing 38 product modules of the FinnOne and CASH@Will suite in the first quarter of year 2009-2010. Product orders were bagged from financial institutions in Middle East, Africa, South East Asia, India and Japan. Global strength of employees as on June 30, 2009 is 2,000.
Vishnu R Dusad, CEO and Managing Director, Nucleus Software said, "The environment in which we are all operating is going through a lot of challenges and issues which will impact the decision making process of the industry. Our diversified client base ensures that the current economic downturn does not cause any major impact to our business but we remain cautious considering the environment."
10.13 crore in comparison to 8.03 crore in the corresponding quarter of the previous year. With total expenses at 64.53 crore in comparison to 68.71 crore in the corresponding quarter of the previous year, the consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) has increased to 16.01 crore in comparison to 14.19 crore. Earning Per Share (EPS) for the quarter is at 3.13 in comparison to 2.48 in the corresponding quarter of the previous year.
The company bagged 11 new product orders and acquired seven new customers for implementing 38 product modules of the FinnOne and CASH@Will suite in the first quarter of year 2009-2010. Product orders were bagged from financial institutions in Middle East, Africa, South East Asia, India and Japan. Global strength of employees as on June 30, 2009 is 2,000.
Vishnu R Dusad, CEO and Managing Director, Nucleus Software said, "The environment in which we are all operating is going through a lot of challenges and issues which will impact the decision making process of the industry. Our diversified client base ensures that the current economic downturn does not cause any major impact to our business but we remain cautious considering the environment."