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Nucleus Software Q3 revenue grows 68%

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CIOL Bureau
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NEW DELHI: Nucleus Software Exports Ltd., a global player in banking

automation and innovative products and software solutions, has reported 68 per

cent growth rate in the quarter ended December 31, 2001, over the corresponding

quarter last year, with a total revenue of Rs 17.07 crore for the quarter.

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Major highlights of the quarter are:

Total revenue for Q3 2001-02 is Rs 17.07 crore, a growth rate of 68 per cent

over the corresponding quarter of last financial year, Post tax profits of Rs

3.65 crore, Revenues from exports for the quarter - Rs 14.22 crore and Dometic

revenues - Rs 2.46 crore.

The company also launched its flagship product - FINNONE - a one stop

end-to-end solution for the banking and finance sector. The company also opened

its branch office in London, UK as part of European expansion plans and added 10

clients this quarter, taking its total active client base up to 60. The company

also achieved SEI CMM Level 3 in the quarter.

The outlook for the quarter ending March 31, 2002 includes total revenues for

Q4 are expected to be Rs 22 crore and Income from exports is expected to be 75

per cent.

Commenting on the company's good performance, Nucleus Software Exports

managing director, Vishnu Dusad said, "Despite the challenging market

conditions, the excellent performance of Nucleus Software in this quarter once

again reinforces the success of our business model to focus on creating

intellectual property for the growing global banking and finance sectors. With

the launch of our new integrated suite of software products - FINNONE, we hope

to achieve larger market share in this segment in next quarters. "We will

also continue to expand our operations in Asia, Australia, Japan and European

markets", added Dusad.

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