RS Software (BSE: 517447; NSE: RSSOFTWARE), the leading vertically integrated technology solution provider to the global electronic payments industry, today announced the Company’s audited financial results for the second quarter ended September 30, 2013. The Company reported a net profit of Rs. 12.70 crore for the quarter ended September 30, 2013, up by 33% from Rs. 9.55 crore over Q2 of last fiscal.
In line with its consistent growth in business, the revenue of the company increased 25% Y-o-Y and 15% q-o-q to Rs. 105.54 crore in the second quarter of FY13-14. The company registered a growth of 64% in its profit before tax for the quarter compared to the same quarter last financial year. The EPS improved from Rs. 9.14 in Q1 FY 14 to Rs. 10.47 in Q2 FY14. Profit after tax for the quarter increased 33% from the same quarter last financial year.
Commenting on the results, Raj Jain, Chairman & Managing Director, RS Software India Ltd said, “RS Software is one of the high performing organizations from India with a continued focus on building leadership as a domain focused provider to global leaders in the payments sector world-wide. The company was recognized in the top 1.3% of the companies listed in the entire Asia Pacific region and amongst the only 19 companies from India in the Forbes ‘Asia’s 200 Best under a Billion’ list of 2013. We see demand recovery in the U.S. which bodes well for our business given our exposure to the market. We have added 2 clients in this quarter. The Company continues to put significant thrust on innovations and in building competencies through our Payments Lab and School of Payments. We have made fresh hiring of 53 candidates in this quarter in order to ramp up our delivery systems. We are confident that given the improving market conditions and the potential growth in the electronic payments industry, RS Software will consistently tread a high growth trajectory”.
Consolidated results for the quarter ended September 30, 2013
§ Revenue in Rupee terms was Rs. 105.54 crore representing Y-o-Y growth of 25%, and Q-o-Q growth of 15%.
§ Revenue in US$ terms was US$ 16.64 mn, representing a Y-o-Y increase of 7%,
§ Operating profit up by 65% y-o-y, at 25% growth of Revenues y-o-y,
§ Profit Before Tax (PBT) was Rs. 21.49 crore, representing a Y-o-Y growth of 64% and Q-o-Q growth of 26%.
§ Profit After Tax (PAT) was Rs. 12.70 crore, representing a Y-o-Y growth of 33% and Q-o-Q growth of 15%.
§ The net margins were at 12%; up from 11% last quarter last year.
§ Earnings per share (EPS) for the current quarter are at Rs. 10.47 against Rs. 9.14 in the last quarter
§ Book Value per share grew by 31% from Rs 92 in Q2 last year to Rs. 121 in Q2.
§ Interim Dividend declared @ 25%
Key Quarter Highlights:
· Featured in the Forbes ‘Asia’s 200 Best under a Billion’ list for the second time. The Company was selected from group of 15,000 publicly listed companies in Asia-Pacific and was one of the 52 companies to re-qualify from the last year’s list.
· New client wins – GCA & GCN
About RS Software:
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 headquartered 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 Software’s knowledge management system, RS School of Payments™ and RS Payments Lab form the foundation of its Global Execution Methodology™ 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.
http://www.rssoftware.com
In line with its consistent growth in business, the revenue of the company increased 25% Y-o-Y and 15% q-o-q to Rs. 105.54 crore in the second quarter of FY13-14. The company registered a growth of 64% in its profit before tax for the quarter compared to the same quarter last financial year. The EPS improved from Rs. 9.14 in Q1 FY 14 to Rs. 10.47 in Q2 FY14. Profit after tax for the quarter increased 33% from the same quarter last financial year.
Commenting on the results, Raj Jain, Chairman & Managing Director, RS Software India Ltd said, “RS Software is one of the high performing organizations from India with a continued focus on building leadership as a domain focused provider to global leaders in the payments sector world-wide. The company was recognized in the top 1.3% of the companies listed in the entire Asia Pacific region and amongst the only 19 companies from India in the Forbes ‘Asia’s 200 Best under a Billion’ list of 2013. We see demand recovery in the U.S. which bodes well for our business given our exposure to the market. We have added 2 clients in this quarter. The Company continues to put significant thrust on innovations and in building competencies through our Payments Lab and School of Payments. We have made fresh hiring of 53 candidates in this quarter in order to ramp up our delivery systems. We are confident that given the improving market conditions and the potential growth in the electronic payments industry, RS Software will consistently tread a high growth trajectory”.
Consolidated results for the quarter ended September 30, 2013
§ Revenue in Rupee terms was Rs. 105.54 crore representing Y-o-Y growth of 25%, and Q-o-Q growth of 15%.
§ Revenue in US$ terms was US$ 16.64 mn, representing a Y-o-Y increase of 7%,
§ Operating profit up by 65% y-o-y, at 25% growth of Revenues y-o-y,
§ Profit Before Tax (PBT) was Rs. 21.49 crore, representing a Y-o-Y growth of 64% and Q-o-Q growth of 26%.
§ Profit After Tax (PAT) was Rs. 12.70 crore, representing a Y-o-Y growth of 33% and Q-o-Q growth of 15%.
§ The net margins were at 12%; up from 11% last quarter last year.
§ Earnings per share (EPS) for the current quarter are at Rs. 10.47 against Rs. 9.14 in the last quarter
§ Book Value per share grew by 31% from Rs 92 in Q2 last year to Rs. 121 in Q2.
§ Interim Dividend declared @ 25%
Key Quarter Highlights:
· Featured in the Forbes ‘Asia’s 200 Best under a Billion’ list for the second time. The Company was selected from group of 15,000 publicly listed companies in Asia-Pacific and was one of the 52 companies to re-qualify from the last year’s list.
· New client wins – GCA & GCN
About RS Software:
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 headquartered 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 Software’s knowledge management system, RS School of Payments™ and RS Payments Lab form the foundation of its Global Execution Methodology™ 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.
http://www.rssoftware.com
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