Nucleus Software Q1 net profit dips 43%

Nucleus Software Q1 net profit dips 43%
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First Published: Mon, Jul 21 2008. 01 02 PM IST
Updated: Mon, Jul 21 2008. 01 02 PM IST
PTI
Mumbai: Nucleus Software Exports has reported a net profit of Rs8.03 crore for the first quarter ended June 2008, a 43% decline over the corresponding period a year-ago.
“The company had a consolidated net profit of Rs14.01 crore in the first quarter of last financial year,” Nucleus Software said in a filing to Bombay Stock Exchange.
The consolidated total revenue of the company rose to Rs82.90 crore in the latest quarter, from Rs66.66 crore in the year-ago period.
“The number of new projects has fallen and has affected the reported numbers. The quarter figures do not truly represent the long-term potential of the company and that with their constant efforts to deliver quality and price performance. We would continue to grow both revenue and profits in the medium term,” Nucleus Software Managing Director Vishnu R Dusand said.
“While our markets are not affected significantly by the prevailing economic conditions, we have observed delays in conclusion of order negotiation,” he added.
For the recently concluded quarter, the company bagged orders for 27 new product modules and added 8 new customers. It implemented 9 product modules and added 40 new employees taking its global head-count strength to 1,976.
Shares of the company were trading at Rs180.45, down 2.75% on the Bombay Stock Exchange.
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First Published: Mon, Jul 21 2008. 01 02 PM IST