MARKET REACTS

Shares of Nucleus Software Exports dropped 15% in intraday trading, hitting a 9-week low of ₹1280.75, following disappointing Q1 results.

Consolidated revenue for the June quarter fell to ₹195.4 crore from ₹206.8 crore in Q1 FY24, and PAT decreased to ₹30.2 crore from ₹53.6 crore.

Co-founder and MD Vishnu R Dusad emphasized a focus on lean implementation and product development in the new financial year.

The company prioritizes innovation and R&D to meet customer needs, with over three decades of domain expertise.

Nucleus Software continues to lead in BFS technology solutions, aiming to expand reach and reduce costs for financial inclusion.

CEO Parag Bhise highlighted the company's role in developing future-proof technologies for the BFSI sector, enhancing the financial ecosystem.

The company is optimistic about strategic R&D, people development, and market expansion to deliver stakeholder value.

Despite the recent drop, the stock has gained 215% over the last two years and 343% over the last five years.

Nucleus Software provides lending and transaction banking products, supporting over 200 banks and financial institutions globally.

Their transaction banking platform supports over 26 million daily transactions across more than 50 countries.