Nucleus Software Exports has received its board’s approval for buyback of shares at a price not exceeding Rs 350 per share via tender offer. The promoters/promoter groups of the company do not intend to participate in the proposed buyback.
Meanwhile, the company reported a healthy 578.6% year-on-year (YoY) growth in its consolidated net profit at Rs 22.26 crore for the fourth quarter ended March 31, 2017 (Q4FY17). Total income from operations grew marginally by 1% at Rs 93.69 crore against Rs 92.73 crore in the corresponding quarter of previous fiscal.
