Shares of Nucleus Software Exports plummeted 15% in today’s intraday trade, hitting a 9-week low of ₹1280.75. This decline followed the company’s disappointing June quarter results, released on Saturday.
For the quarter ending in June, Nucleus Software reported consolidated revenue of ₹195.4 crore, down from ₹206.8 crore in Q1 FY24. The consolidated PAT stood at ₹30.2 crore, compared to ₹53.6 crore in Q1 FY24. In the preceding quarter, the company reported a net profit of ₹52 crore.
Commenting on the results, Mr. Vishnu R Dusad, co-founder and managing director of Nucleus Software, said, “We started our financial year with a full commitment towards lean implementation and adoption. For the first quarter of FY 2024–25, our focus has been on implementing and adopting lean principles in product development and relevant functions.
“As we step into this new quarter, our mission is to innovate continuously to meet the evolving needs of our end customers. Our dedication to empowering financial institutions sustainably and competitively is fueled by relentless R&D investments and over three decades of domain expertise,” Vishnu added.
He said that the company remains a leader in BFS technology solutions and is prepared to embrace market challenges, expand its reach, scale operations, and reduce the cost of cash to aid financial inclusion.
Mr Parag Bhise, CEO of Nucleus Software, said, “The company has consistently pioneered cutting-edge technologies that have transformed the BFSI domain. We have continuously raised industry benchmarks by developing future-proof technologies that strengthen the financial ecosystem and enable financial institutions to scale and expand into new geographies efficiently. With a strong emphasis on research and development, we stay ahead of industry demands, continually enhancing the customer experience through innovative solutions.”
“As Nucleus Software progresses through the fiscal year, the company is buoyed by a strong sense of optimism. With an unwavering commitment to strategic R&D initiatives, people development, and expanding market reach, Nucleus Software is poised to consistently deliver value to all stakeholders,” Parag Bhise noted.
Despite today’s sharp decline, the stock has gained 215% in 2 years and 343% over the last five years. The company offers lending and transaction banking products to the global financial services industry.
Fintech Solutions supports over 200 banks and financial institutions across 50+ countries, covering areas such as retail, corporate and SME finance, Islamic finance, automotive finance, captive automotive finance, cash management, mobile and internet banking, transaction banking, and more.
Their globally integrated transaction banking platform facilitates over 26 million transactions each day.
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