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July 22, 1999
Nucleus Software turnover grows 46 per centNucleus Software, a pioneer in banking automation and provider of innovative software solutions in India, has declared a 46 per cent growth in turnover for the year ending June 30.
The combined turnover of the company inclusive of wholly owned subsidiary in Singapore has reached Rs 96.9 million and group net profit is Rs 14.5 million. For the first time the company has crossed the Rs 110 million mark in order bookings.
Compared to the previous corresponding year, the company's turnover has gone up by 46 per cent to Rs 78.2 million while the gross profit has gone up by 462 per cent to Rs 25.6 million and net profit substantially to Rs 13.1 million.
The company is in the process of setting up a subsidiary in US and has expanded its marketing operations into Canada, Africa, Gulf and SAARC. The company has taken initiative to achieve CMM Level 3 quality certification at the earliest.
In the last year, the company has added HDFC Bank, Bank of Tokyo Mitsubishi, State Bank of Mauritius, Times Bank, Scotia Finance, GE Capital, nationwide finance and Vysya Bank to its growing list of existing valued clients like American Express Bank, AVCO Financial Services and Citibank.
Nucleus Software, established in 1986, has been providing products and customising software solutions for the last 12 years with focus on the banking and financial services sector.
Based in India, the group has staff strength in excess of 500 professionals and over 1,500 man-years of experience in developing application software.
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