Revenue from operations increased by 28.7% QoQ to Rs 140.72 crore during the quarter.

Total expenses rose 11.9% to Rs 119.84 crore in Q4 FY22 over Q3 FY22.

Profit before tax in Q4 FY22 stood at Rs 27.06 crore, up by 165.3% from Rs 10.20 crore in Q3 FY22.

The company reported 62.4% fall in consolidated net profit to Rs 42.10 crore on a 1.4% decline in revenue from operations to Rs 448.06 crore in FY22 over FY21. Employee benefits expense rose by 21.1% YoY to Rs 335.88 crore in FY22.

Vishnu R Dusad, MD, Nucleus Software, said: “To make sure we continue serving our customers at the same level as pre-pandemic levels, we invested heavily in the greatest assets an organization like ours has- its own people. We gave unprecedented hikes to the entire Nucleus family, to reduce risk of attrition.

In addition, we recruited 400 freshers from 45 cities across India to fulfill the growth requirements and also as our long-time commitment in investing in young minds and young talent.

While these particular investments we made are visible in a not so positive addition to our profit and loss statement, we believe that the long-term effects of these investments will certainly yield great returns.”

Nucleus Software Exports is a software product company that provides lending and transaction banking products to global financial leaders. It powers the operations of more than 200 Financial Institutions in over 50 countries, supporting retail lending, corporate banking, cash management, mobile and internet banking, automotive finance and other business areas.