Nucleus Software Exports Q3 PAT declines 68% yoy to Rs8.04cr

9 Feb 2022 , 09:45 AM

Nucleus Software Exports Limited, the BSE & NSE listed, India’s leading provider of lending and transaction banking solutions to the global financial services industry, announced its financial results on February 7, 2022, for the quarter ended December 31, 2021. Reinforcing its commitment to driving the digital transformation of the BFSI industry, the company is continuing to invest heavily in talent and futuristic technologies to ensure long-term growth, the company said in a regulatory filing.

The company’s revenue in Q3FY22 stood at Rs121.59cr on a consolidated basis, a decline of 2% from Rs124cr in Q3FY21. Profit After Tax (PAT) in Q3FY22 at Rs8.04cr on a consolidated basis, a decline of 68% from Rs24.82cr in Q3FY21. Net Margin at 6.6%

The company’s operating margin was at 4.43%; up 0.34% qoq and down 16.64% yoy. EPS at Rs3.04 on a standalone basis and Rs2.77 on a consolidated basis.

At around 9.47 am, Nucleus Software Exports Ltd was trading at Rs527.10 per share up by Rs2.85 or 0.54% from its previous closing of Rs524.25 per share on the BSE.

Vishnu R Dusad, Managing Director, Nucleus Software, said: “This is one of those unique years, when despite the huge turbulences in the environment, we have taken some of the strongest and boldest steps to continue building strength for all our stakeholders. We have continued to innovate for our customers coming out with brilliant six monthly releases, full of ultra-flexible ultra-rich functionalities.

Opportunities for all the Nucleites to continue growing to the best of their abilities have been further enhanced during the period. Likewise, for our shareholders we have completed a Buyback, that is the biggest so far, in the process ensuring that all our stakeholders’ interests are taken care of. “

Parag Bhise, Chief Executive Officer, Nucleus Software, said: “While it continued to be another tough Quarter, I am happy to share that we have been able to recruit a large number of freshers and they are at various stages of onboarding including many who have started to contribute to our deliveries and thus to the topline. We are otherwise experiencing good traction from the market, both with our existing as well as new customers and we have a sizeable work in hand as well as a strong pipeline.

With many initiatives taken in this quarter to strengthen both the security and helping Nucleites in upgrading the skills and knowledge by providing them with better working environment, we are expecting significant productivity gains to come in, in the coming quarters.”