The Hindu Business Line : Nucleus Soft posts 75% drop in Q2 net

New Delhi, Oct. 20 Nucleus Software Exports Ltd has posted a 75-per cent drop in net profit for the quarter ended September 30, 2008 at Rs 4.07 crore against Rs 16.18 crore in the year-ago period. The company fared a tad better on the topline as consolidated revenues rose 7 per cent to Rs 75.46 crore compared to Rs 70.37 crore for the same period previous year.

While top officials were not available for comments, Nucleus, in a notice sent to the BSE, said that the macro economic developments and the liquidity crisis prevailing globally were a cause for uncertainty. “While our current revenue from the US and Europe are 16 per cent of the total revenue, our markets in Japan, West Asia, Africa, South East Asia and India cannot remain insulated. We are putting in motion plans for dealing with different business scenarios.”

With total expenses rising by 28 per cent, the consolidated EBITDA declined by 53 per cent to Rs 8.39 crore. compared to Rs 17.95 crore for the corresponding previous quarter.

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