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April 28, 2009

Nucleus Software Q4 PAT down

Consolidated revenue increased to INR858m compared to INR780m for the same period last year

By CBR Staff Writer

Nucleus Software Exports, a provider of banking software, has posted a net profit after tax of INR96m for the fourth quarter ended March 31, 2009, compared to INR160m for the same period in 2008.

Consolidated revenue for the fourth quarter ended March 31, 2009 was INR858.1m, compared to INR780m for the same period last year.

Earnings per share for the fourth quarter were INR2.97, in comparison to INR4.95 in the corresponding quarter of the previous year.

For the year ended March 31, 2009, consolidated revenue increased to INR3.28 billion in comparison to INR2.88 billion for the previous year. Net income after tax was INR322.6m in 2009, compared to INR617.4m in 2008.

Earnings per share for the year ended March 31, 2009 were INR9.97, compared to INR19.08 in 2008.

Vishnu Dusad, CEO and managing director of Nucleus Software, said: We are pleased to announce growth in revenue for the year, given the difficult economic scenario. Operating margins have been under pressure during the year due to under-utilization of infrastructure and manpower and additional expense on certain large projects. We have taken steps to rationalize our cost structures going forward.

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