Nucleus Software Exports Ltd. has seen an improvement in its financial results during the beginning of FY 2011. This has happened after it saw a decrease its consolidated quarterly profits.

Recovery in the Indian market along with easier lending norms of the banks have been cited as the reason for this performance. The company is also targeting new and emerging markets.

Talking to the media, the Chief Operating Officer of the company said that Nucleus is using the improved situations and the number of requests that it gets is increasing every day.

Nucleus, which is into the business of supplying banking solutions to overseas customers, was hit hardly because of the meltdown. And that is the reason why it saw a massive decline in its consolidated profits. It went down by 4.3 per cent to Rs. 91.8 million. The sales went down by 15.8 per cent to Rs. 722 million for the quarter ending March 31.

However, because of the massive cost cutting measures, it saw its operating margins improve by 19.15 per cent over 13.76 per cent y-o-y, for last year.