Nucleus Software Q3 results: Net up 7% to Rs 24.82 crore

Nucleus Software Q3 results: Net up 7% to Rs 24.82 crore

NEW DELHI: Nucleus Software Exports Ltd has posted a 6.9 per cent rise in its consolidated net profit at Rs 24.82 crore for the December 2020 quarter. The company had posted net profit of Rs 23.2 crore in the December 2019 quarter.

Nucleus Software Exports further said it has appointed Parag Bhise as its new Chief Executive Officer effective from April 1, 2021.

Its consolidated revenue from operations, however, declined 4.8 per cent to Rs 124.01 crore in the said quarter from Rs 130.33 crore in the year-ago period, it added.

The company’s product business revenue for the quarter was at Rs 103.2 crore in the quarter under review, in comparison to Rs 103.9 crore in the corresponding quarter last year.

“… During the quarter, we added three new customers and our solutions were successfully implemented by nine financial institutions worldwide.

“In addition, we launched the latest version of our award winning digital lending platform – FinnOne Neo 5.5, which is designed specifically to help lenders rapidly expand business operations and generate new digital revenue streams by targeting new customer segments,” Nucleus Software CEO RP Singh said.

Singh said Parag Bhise has been named as the new CEO effective from April 1, 2021 as he is retiring having reached his retirement age.

“I will continue as an Executive Director of the company. Anurag Mantri (Additional Executive Director) has been appointed as the Chief Financial Officer with immediate effect,” he added.

Bhise and Mantri have been with Nucleus Software for more than two decades.

“I am certain that under their leadership Nucleus will continue to focus on what it does best – helping our customer succeed by developing innovative technologies,” he further said.

Bhise currently serves as Executive Vice President Product Engineering.

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