Highlights of quarterly performance for the period ended June 30, 2017
· 4 key clients additions
Kolkata/Mumbai, — July 21, 2017 - 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 fourth quarter & financial year ended June 30, 2017.
Q1FY18 vs Q4FY17 (Q-o-Q) Consolidated
· Revenues at Rs. 19.65 crore v/s Rs. 20.27 crore
· EBIDTA at Rs. (8.04) crore v/s Rs. (5.78) crore
· Net Profit at Rs (5.78) crore v/s Rs. (4.36) crore
Commenting on the business performance, Raj Jain, Chairman & Managing Director, RS Software (India) said, ” The first quarter results for fiscal 2017-18 are as per our plan where we continue to invest to execute our strategy that has been articulated to our investors since we started our journey last year and we are confident of our core strengths to leverage the huge opportunity in digital payments. We have as of now healthy cash reserves of RS 150 crores. During the fiscal year 2016-17, RS Software delivered two major payment platforms in India-Unified Payment Interface and Bharat Billing Payment System. These developments will continue to be strengthened during the fiscal 2017-18 and the company will launch its own payment platforms in emerging markets. We are in the middle of transition of our strategy to emerge as a platform and products company embedded deeply in the global digital payments space.
About RS Software (India):
RS Software (India) integrates knowledge management, innovation and specialised methodologies with focus on payments technologies to deliver the best-in class services to clients list that includes the world's leading payments brands.
With over two-decades of expertise in providing newer technologies in digital payments, RS Software has built solutions for the introduction of mobile and contactless payments while mitigating the pain and cost associated with the legacy systems supporting them. It has been involved in setting up the technology for unique payment platforms like Unified Payment Interface and Bharat Billing Payment Solutions, an integration online platform for all bill payments in India.
RS Software utilizes a proprietary methodology (via RS School of Payments and RS Payment Labs) that is based specifically on the unique dynamics of the payments industry to deliver a full range of software services to its clients. It is specialists in credit, debit, prepaid and loyalty card processing and management.
The Company operates in four continents, with its US headquarter in Silicon Valley, offices in United Kingdom, Singapore and corporate headquarter in Kolkata, India.
Forward looking statement
We have disclosed forward-looking information so that investors can comprehend the Company’s 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 Management’s plans and assumptions. We have tried, wherever possible, to qualify such statements by using words such as ‘anticipates’, ‘estimates’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’ 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.