Nucleus Software to develop 1000-seater facility; net up 15%

Nucleus Software to develop 1000-seater facility; net up 15%
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First Published: Mon, Apr 28 2008. 04 37 PM IST
Updated: Mon, Apr 28 2008. 04 37 PM IST
PTI
New Delhi: Global banking and financial solutions company Nucleus Software said on 29 April, it is planning to expand its operations by setting up a 1000-seater facility in the country entailing an investment of up to Rs30 crore.
“The company will be investing Rs20-30 crore in 17 acres of land in a notified SEZ in Jaipur (Rajasthan) for the 1000-seater facility, which would be operational by the end of June-July next year,” Nucleus Software CEO and Managing Director Vishnu R Dusad told reporters here.
The firm which earns 70% of its revenue from IP-related product and services today announced a net profit of Rs16.02 crore for the quarter ended March 31, 2008, a 14.84% growth over the corresponding period a year ago.
The company had a consolidated profit of Rs13.95 crore in the corresponding period last year.
The consolidated revenue increased by 29.75% to Rs78.06 crore from Rs60.16 crore in the corresponding period last quarter.
“The company’s exposure to the US market is mere five per cent which helped us to maintain a healthy growth despite a slowdown in the global market,” he added.
Almost 50% of the company’s business comes from Japan and the rest from India, US, Middle East and Africa.
Nucleus which provides software solutions to the banking and financial services industry, with its flagship product -FinnOne also registered a 46.78% growth in its product business during this quarter.
The consolidated net profit for the year ended March 31, 2008, stood at Rs288.72 crore, a 30.53% growth over the corresponding period a year ago.
The company recommended a final dividend of 30% that is Rs3 a share, on post bonus capital.
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First Published: Mon, Apr 28 2008. 04 37 PM IST