NewsVoir | 17 Oct, 2016
Highlights of Q2FY17 ended September 30, 2016
Working with world class Payment Companies
Building Indiaâs Digital Infrastructure â UPI & BBPS
Investing to capture growth in Payments Industry globally
Consolidated Q2FY17 vs Q1FY17 (Q-o-Q)
Revenues at Rs. 18.96 crore v/s Rs. 28.52 crore,
Net Profit at Rs (5.76) crore v/s Rs. (3.91) crore
EBIDTA at Rs. (6.96) crore v/s Rs. (4.54) crore
RS Software (India) Ltd. (BSE: 517447; NSE: RSSOFTWARE), the leading vertically integrated technology solution provider to the global electronic payments industry; today announced its financial performance for the second quarter ended September 30, 2016.
Commenting on the results, Raj Jain, Chairman & Managing Director, RS Software India Ltd. said, âThe company is transitioning away from being a traditional software services outsourcing organization to being in the business of payments itself. This is a conscious strategy that has been articulated clearly in the investor communication section of the company website, and it is building the foundation for the company to have a recurring revenue business model. There are significant investments being made to leverage the growth in the payments space, and the loss in the short term will be well rewarded with a superior longer term business success. The Rs 180 crore cash reserves including net current asset on the balance sheet are being deployed to ensure competitive wins in the payments industry in India and globally.â
About RS Software India
RS Software India Ltd. is a vertically integrated technology solution provider to the electronic payments industry, with focus on building domain leadership from India. The Company operates in four continents, with its US headquarters in Silicon Valley, offices in United Kingdom, Singapore and Corporate headquarters in Kolkata, India. RS Software has been in business for the last two decades providing solutions to Payment Networks, Processors, Acquirers, Issuers, ISOs and other major players in the electronic payments domain.
RS Software integrates knowledge management, innovation and specialised methodologies with 20 years of an exclusive focus on payments to deliver the best-in-class services to a client list that includes the world's leading payments brands. The company is engaged in offering both vertical and horizontal services customized for the payments industry. With 85% of retail payments still being made with paper money, the company is ideally positioned to build and maintain the core systems infrastructure for the Electronic Payments Industry. The Company is using a spectrum of development tools and methodologies including SSAD/OOAD, classic/relaxed waterfall, classic/relaxed spiral, RUP and agile. RS Softwareâs knowledge management system, RS School of Paymentsâ¢ and RS Payments Lab form the foundation of its Global Execution Methodologyâ¢ that offers distinct value to all stakeholders of the Payments Industry.
RS Software has built solutions for the introduction of new standards such as EMV and emerging payment areas like mobile and contactless payments, while enhancing the ability of its clients to manage their legacy systems. The domain focus makes RS Software a partner of choice for its customers and an employer of choice for its employees.
For more information, please visit www.rssoftware.com
Forward looking statement
We have disclosed forward-looking information so that investors can comprehend the Companyâs prospects and make informed investment decisions. This release and other written and oral statements that we make periodically contain such forward-looking statements that set out anticipated results based on the Managementâs plans and assumptions. We have tried, wherever possible, to qualify such statements by using words such as âanticipatesâ, âestimatesâ, âexpectsâ, âprojectsâ, âintendsâ, âplansâ, âbelievesâ and words and terms of similar substance in connection with any discussion of future operating or financial performance.
We do not guarantee that any forward-looking statement will be realised, although we believe we have been diligent and prudent in our plan and assumptions. The achievement of future results is subject to risk, uncertainties and validity of inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated or projected. Investors should bear this in mind as they consider forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.