Nucleus Software Recorded Robust Performance in FY2024

On May 24, 2024, Nucleus Software Exports Limited, India’s leading provider of lending and transaction banking solutions, released its results for the quarter (Q4 FY2024) and year ended (FY2024) on March 31, 2024.

Quarterly Performance

Consolidated revenues for the quarter ending March 31, 2024, were ₹210.3 crore, compared to ₹206.2 crore for the same period in the previous fiscal year. During the quarter, the PAT was ₹67.6 crore, but on a consolidated basis, it is ₹52.1 crore. PAT on its own is ₹48.5 crore, down from ₹66.8 crore in Q4 of FY 2022–23.

During Q4 FY2024, the consolidated EPS stood at ₹19.48, down from ₹25.27 in Q4 of FY2023. During this period, the standalone EPS was ₹18.11, compared to ₹24.95 in Q4 of FY2023.

Yearly Performance

During FY2024, the company’s revenue rose 30% YoY to ₹826.5 crore on a consolidated basis, and EBITDA amounted to ₹219.5 crore on a consolidated basis, reflecting a growth of 41% YoY. The company witnessed an exceptional growth of 50% in PAT to ₹191.6 crore on a consolidated basis.

The company’s Board of Directors has recommended a final dividend of ₹12.5 per equity share with a face value of ₹10 each, translating to 125% of the Face Value of ₹10 each for FY2024. However, this is subject to the Shareholders’ approval at the ensuing Annual General Meeting of the company.

“In the dynamic landscape of modern business, Nucleus Software stands as a beacon of innovation, guided by our unwavering dedication to excellence. With our digital-first ethos at the forefront, we forge ahead, delivering robust and scalable solutions that redefine industry standards. Our unyielding dedication to empowering financial institutions to lead sustainably and competitively is fueled by relentless R&D investments and our rich domain expertise of over three decades,” said Mr Vishnu R Dusad, MD and Co-founder of Nucleus Software.

He further added, “As we navigate this final quarter and beyond, our mission remains clear to explore new horizons, maintain our competitive edge, and consistently deliver exceptional value to not only Financial Institutions but also end consumers of financial services.”

“With a rich legacy spanning over three decades, Nucleus Software has remained a pioneering force in banking/ financial services technology innovation since its inception in India. The Q4 results stand as a testament to our ongoing pursuit of excellence in banking and financial services technology,” said Mr Parag Bhise, CEO of Nucleus Software.

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