Nucleus Software revenue nudges up
Nucleus Software’s consolidated revenue has moved up for the second quarter of FY 2017 – standing at IND 956 million ($14.8 million) compared to IND 847 million ($12.6 million) in Q2 of the previous year.
For the quarter ended 30 September 2016, EBIDTA was IND 141 million ($2.1 million) in comparison to IND 17 million ($253,900) in the corresponding Q2 of the previous year. There was also a rise in net profit after tax – standing at IND 137 million ($2.04 million) in comparison to IND 45 million ($672,000) in the corresponding Q2 of the previous year.
Vishnu Dusad, CEO at Nucleus Software, says in the second quarter it saw “continuing traction in our cloud business and digital solutions”.
The good news for the firm is on the back of recent deals. India-based Shubham Housing Development Finance Company implemented Nucleus Software’s FinnOne Neo, a loan lifecycle management solution in the cloud; and Nucleus Software released its mobile loan self-sourcing solution – mApply – for the Australian market.
These figures are an improvement on FY 2016, when its net profit after tax decreased from INR 647 million ($9.7 million) in the previous year to INR 325 million ($4.8 million).
The firm also released its positive figures for the first half-year of FY 2017.
Revenue is at IND 1.85 trillion ($27.6 million), against IND 1.69 trillion ($25.2 million) in the corresponding half year of FY 2016.
Product business revenue is IND 1.44 trillion ($ 21.5 million) in comparison to IND 1.24 trillion ($18.5 million) in the corresponding half-year of the previous year.
EBIDTA stood at IND 233 million ($3.5 million) in comparison to IND 60 million ($896,000) in the corresponding half-year of the previous year.
Net profit after tax stood at IND 245 million ($3.6 million) in comparison to IND 113 million ($1.6 million) in the corresponding half-year of the previous year.