Nucleus Software net profit up by 79 per cent in 2005-06

New Delhi, Apr 27 (UNI) Nucleus Software Exports Ltd (NSE), a leading global provider of next generation software products for banking and financial sector, today reported a 78.75 per cent increase in its net profit at Rs 37.09 crore for the year ended March 31, 2006 as against Rs 20.75 crore in the previous year.

The consolidated revenue of the company during the year went up by 43.54 per cent to Rs 148.05 crore compared to Rs 103.14 crore last year.

Earning per share for the year increased to Rs 23.04 against Rs 12.90 for the previous year and dividend was recommended at 35 per cent at Rs 3.50 per share.

Consolidated revenue for the quarter ending March 31, 2006, increased by 35.69 per cent to Rs 42.09 crore as against Rs 31.02 crore for the corresponding quarter of last year.

Net profit increased to Rs 10.90 crore up by 27.28 per cent compared to Rs 8.54 crore the same quarter in the previous year.

Earning per share for the quarter increased to Rs 6.77 against Rs 5.31 for the same quarter last year.

Announcing the results for the whole year and the last quarter of 2005-06, Mr Vishnu R Dusad, Managing Director of NSE, told reporters that the Company plans an investment of Rs 20 crore in infrastructure in the proposed launch of the third phase in the Noida Campus. The facility will be a 800 plus seat state of the art complex.

The company plans to increase headcount by 500 people in the coming year and 100 people to be added to in product management group to enhance products to leadership position. Investment will be met through internal accruals as company has assets worth over Rs 77 crore.

NSE covers almost 70 per cent of the retail business in India.

Nucleus Software inked the global alliance with Red Hat Enterprises Ltd for linux enablement to provide end-to-end service for banking and financial services industry.

Nucleus software will continue to focus on development of its niche banking solutions. The Company will also continue to focus on globalisation and broad-basing its business in various countries create adquate infrastructure, capacity and talent, Mr Dusad said.

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