Nucleus Software's Q1 net profit up by 56%

By Staff
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Google Oneindia News

New Delhi, July 24 (UNI) Nucleus Software Exports a next generation banking and financial software products provider, today posted an increase of 56.00 per cent in the net profit to Rs 13.40 crore during first quarter ended June 30, 2006, as against Rs 8.59 crore for same period last year.

The company's consolidated revenue for the Q1 also increased by 51.52 per cent to Rs 49.76 crore as compared to Rs 32.84 crore for the corresponding quarter of the previous year.

''Our value proposition, functionality rich products and consistent quality delivery is gaining substantial global market share.'' Nucleaus Managing Director Vishnu R Dusad said commenting on the results.

During the quarter, some of the major contracts for products which were won in the previous quarters, were successfully implemented.

The combined product modules implemented globally has crossed 175 and with the current orders in hand for products while another 100 modules will be implemented over another 50 plus countries. By 2008 the figure of product modules implemented globally would be in the range of 400 over 80 countries with the current orders in hand, a company statement said.

UNI VJ ARB RN1850

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