Nucleus Software Q4 PAT declines 23%, shares down 5.6%

Nucleus Software on Thursday announced a 23% year-on-year (YoY) decline in its consolidated net profit at ₹52.1 crore for the fourth quarter of the financial year 2024.

The company’s revenue from operations grew 1.96% YoY to ₹210.3 crore during the quarter. Shares of Nucleus Software were trading lower by over 3% on Friday.

The firm’s operating earnings before interest, tax, depreciation, and amortisation (EBITDA) for the quarter declined 30% YoY to ₹58.22 crore.

For the financial year ending on March 31, 2024, the company recorded a 50% YoY growth in its net profit at ₹191.6 crore. Revenue from operations rose 30.26% YoY to ₹826.5 crore. The operating EBITDA during the year rose by 41% YoY to ₹220 crore.

The company’s earnings per share (EPS) in FY24 rose 50% YoY to ₹71.56.

The company had recently announced Surya Prakash Kanodia as its chief financial officer with effect from May 8, 2024. Before joining Nucleus Software, Kanodia held the position of head of finance for digital operations and platform business at Wipro, the firm pointed out.

With Kanodia stepping in as the CFO, Anurag Mantri will be relieved from his additional role as the company’s CFO, the firm said. Mantri will continue his role as an executive director and chief operating officer within the company.

Nucleus Software Exports is a software company that focuses on delivering lending and transaction products to global financial clients. The company’s clientele spans 50 countries and supports various categories in the banking and finance world. The company’s lending platform manages $500 billion worth of loans in India and an additional $700 billion worth of loans worldwide.

The board of directors of Nucleus Software Exports announced a dividend of ₹12.5 per share. Shares of the company have declined by nearly 3% since the beginning of the year. The stock has gained over 110% in the last one year.