Nucleus Software, the BSE & NSE listed, leading provider of lending and transaction banking solutions to the global financial services industry, has taken some extremely bold steps to ensure long term growth while announcing its financial results for the quarter ended June 30, 2021.
The PAT on a consolidated basis was at Rs. 6 crore, as against Rs. 36.33 crore in Q1 of 2020-21.
The revenues on a consolidated basis are Rs. 108.44 crore for the quarter ended June 30, 2021, as against Rs. 128.35 crore in Q1 of 2020-21.
The stock ended at Rs600.80 down by Rs83.9 or 12.25% from its previous closing of Rs684.70 on the BSE. The scrip opened at Rs600 and has touched a high and low of Rs621.30 and Rs582.50 respectively.
“The second wave of Covid left almost every one of us scarred and at Nucleus we consider Nucleites (our employees as they are called) as not just a part of our team but our families. It was an extremely tough period for all of us. The other challenge that we as an industry are facing is that of industry wide attrition, due to huge increase in the digitization work to the country. To ensure that Nucleites continue to add value to our customers in uninterrupted manner we took some major steps. The compensation has been raised substantially. While this has affected our profitability, we are confident we will be able to get back to our standard profitability in not too distant a future. We believe that this is an investment for our future’, says Mr. Vishnu R Dusad, MD, Nucleus Software.
“While our Profits have been impacted due to the rise in personnel cost, with the business opportunities, shaping up, we are quite confident that we will be back on track”, says Mr. Parag Bhise, CEO, Nucleus Software.