The Hindu Business Line : Nucleus Q4 income rises 42.93%

New Delhi April 30 Nucleus Software Exports Ltd on Monday reported a 42.93 per cent increase in its consolidated revenues to Rs 60.16 crore for the last quarter of the financial year ended March 31, 2007, from Rs 42.09 crore over the corresponding quarter last year.

The company's net profit rose by 27.98 per cent to Rs 13.95 crore for the quarter as against Rs 10.90 crore in the corresponding period last fiscal. While the revenues accrued from its products business stood at Rs 35.66 crore, up by 92.24 per cent over the previous quarter, revenues from its project and services business contributed Rs 24.50 crore, reporting a modest increase of 4.08 per cent over the corresponding quarter year.

Employee plan

"In the coming fiscal we would hire 400-500 professionals from the current head count of 1,600 globally. Our current order book stands at Rs 330 crore, most of which would be completed by the end of this year or the beginning of the next year," said Mr Vishnu Dusad, Chairman and Managing Director, Nucleus Software Exports Ltd.

He added that the company had orders for the fiscal, which would expand its presence to 80 markets from the current 22.

The company's consolidated revenues stood at Rs 221.19 crore for the year ended March 2007 from Rs 148.05 crore, reporting a growth of 49.40 per cent over the previous fiscal.

The company's net profit after tax was up by 48.73 per cent to Rs 55.15 crore from Rs 37.08 crore in the previous fiscal.

Income source

During the year, product business accounted for revenues worth Rs 119.76 crore and revenues from its project and services business stood at Rs 101.43 crore.

The board of directors recommended a bonus share in the ratio of 1:1.

The company provides primarily software solutions primarily for cash management, retail and corporate banking amongst others.

It recently developed a product specifically targeted for banks to lend to SMEs in Indonesia.

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