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Nucleus Software Exports, software product and solutions provider to the banking and financial services industry, on Monday reported its net profit at Rs 11.17 crore for the first quarter ended June 30.
The net profit declined by 9 per cent compared with Rs 12.30 crore in the corresponding quarter previous year.
However, revenue during the quarter rose by 17 per cent to Rs 86.32 crore as against Rs 73.95 crore in the corresponding quarter last year.
“The product business performed in line with expectations. Our transformational initiatives in operations and human resources will pay significant returns and will empower the company for long-term growth,” Vishnu R Dusad, Chief Executive Officer and Managing Director, Nucleus Software, said.
Earnings before interest, taxes, depreciation and amortisation for the quarter stood at Rs 14.22 crore against Rs 9.16 crore in the corresponding quarter last year, the company said.
Shares of the company closed at Rs 72 on the BSE on Monday, down 1.23 per cent from the previous close.
>ronendrasingh.s@thehindu.co.in
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