The Hindu Business Line : Nucleus net up 11% in Q3

New Delhi, Jan 21 Nucleus Software Exports Ltd on Monday registered 11.41 per cent rise in its net profit for the third quarter ended December 2007 to Rs 15.53 crore, on the back of rupee appreciation and accelerated investments in products development.

The company’s consolidated revenue from software products and software development services rose over 31 per cent to Rs 73.63 crore against Rs 56.18 crore in the year-ago period.

“We have entered into forward contract of $26 million. In the long term, we are focusing on using more technology on our own work processes for higher productively gains. We will continue investing in tools for improving productivity,” Mr Vishnu R Dusad, CEO and Managing Director, said.

The board has approved entering into a Memorandum of Understanding with a renowned developer for 16 acre in a notified SEZ in Rajasthan.

The company added five new customers during the quarter and saw over 70 per cent of its revenue coming from product business, and the remaining from projects and services. The product business revenue for the quarter stood at Rs 51.73 crore, an increase of 62.88 per cent in comparison to Rs 31.76 crore in the corresponding quarter of the previous year.

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