Audited Financial Results
For the year ended 31st March, 2003
									(Rupees in lakhs)
Sr		9 months ended		Quarter Ended				Year Ended
No	Particulars	31.12.2002		31.03.2003		31.03.2002		31.03.2003		31.03.2002		02-03	01-02
		(Unaudited)		(Unaudited)		(Unaudited)		(Audited)		(Audited)
1	Net Sales / Income from Operations :-
	--Money Changing Division		166.46		44.77		73.75		211.23		277.04	166.46	203.29
	--Money Transfer		45.96		14.64		14.73		60.60		45.07	45.96	30.34
			212.42		59.41		88.48		271.83		322.11	212.42	233.63
2	Other Income		28.99		5.53		6.07		34.52		67.65	28.99	61.58
3	Total Expenditure		253.79		105.45		83.24		359.24		328.51	253.79	247.36
	a) Increase / decrease in stock in trade		-		-		-		-		-
	b) Consumption of raw materials		-		-		-		-		-
	c) Staff Cost		72.70		22.44		23.27		95.14		106.25	72.7	81.28
	d) Provision for Bad Debts (Net)		55.61		12.63		9.69		68.24		15.53	55.61	5.84
	e) Bad Debts Written off		-		28.11		-		28.11		-
	f) Other Expenditure		125.48		42.27		50.28		167.75		206.73	125.48	160.24
4	Interest (Net)		29.20		7.82		6.02		37.03		27.18	29.21	18.01
5	Depreciation		17.56		3.19		6.28		20.75		22.73	17.56	18.74
6	Profit (+)/Loss (-) Before Tax (1+2-3-4-5)		(59.14)		(51.52)		(0.99)		(110.67)		11.34	(59.15)	11.10
7	Provision for Deferred Taxation		-		8.86		(7.50)		8.86		-		7.50
8	Provision for Taxation		-		-		-		-		-
9	Net Profit (+)/Loss(-) (6-7-8)		(59.14)		(60.38)		6.51		(119.53)		11.34	(59.15)	3.60
10	Paid -up Equity Share Capital		344.08		344.08		344.08		344.08		344.08	344.08
	(F.V. Rs 10/- each )
11	Reserves excluding revaluation Reserves		-		257.84		451.04		257.84		451.04
12	Basic and diluted EPS (Rs. 10/- each)	Rs.	(1.72)	Rs.	(1.75)	Rs.	0.18	Rs.	(3.47)	Rs.	0.33
13	Aggregate of non promoter Shareholding
	--No of Shares		850,312		850,312		1,027,562		850,312		1,027,562	850312
	--Percentage of Shareholdings		24.71		24.71		29.86		24.71		29.86	24.71
Note :-
1)	The above results were taken on record by the Board at its Meeting held on  08.07.2003
2)	Current year Deferred Tax Liability amounting to Rs. 8.86 Lacs is adjusted against Profit & Loss account,
	& arrears of Deferred Tax Liability amounting to Rs. 64.52 Lacs is also provided for in the current year.
3)	Previous year figures have been regrouped / rearranged wherever necessary.
4)	Fixed assets used or liabilities contracted have not been identifiable to either of the segments specifically
	as the same are interchangeable.
5)	The statutory auditors in their report on the accounts for the year 2002-03 have commented as under :-
	a) Non confirmation of debtors, creditors, Loans and Advances received.
	b) Additional provision for doubtful debts Rs. 60.45 lacs against debtors.
	c) Necessity of provision for dimunation in value of investment amounting to Rs. 12.58 lacs in one of the group company
	under the same management to comply with AS 13 - Accounting on Investment.
	Comment:
	a) Confirmations from debtors, creditors are in process.
	b) On additional provision for doubtful debts :
	The company has taken necessary action, to recover the outstanding balance from debtors.
	The company is confident in recovering the amount involved.
	c) Regarding investment in group company.
	The company does not consider the erosion in value as permenent & hence no provision is made.
							For Nucleus Securities Limited
Mumbai								Asit C Mehta
July 8, 2003.							Chairman and Managing Director