R Systems International estimates softness in Q1, Q2 revenues

The company can expect for normal level of operations starting October Quarter, 2020 onwards.

Jun 17, 2020 11:06 IST India Infoline News Service

R Systems International
R Systems International Limited informed the exchanges Tuesday that the company has started feeling softness in the demand towards the end of March Quarter, 2020 when several governments, including India and USA, announced lockdown. It started with delay in start of new assignments.

But, it has further impacted as certain existing customers have also approached us with discounts  and credits for certain periods, few cancellations and longer time for payment.

As of now, it seems that it will impact June Quarter, 2020 and September Quarter, 2020 revenues and margins. Most of the countries have already started unlocking of the economic activities. Further, the businesses have also adopted to new normal and based on the present assessment, we can expect for normal level of operations starting October Quarter, 2020 onwards.

“In accordance with the applicable Government directives in respective countries where we operate, starting from mid of March 2020, the company assessed the situation and initiated the Business Continuity Plan (BCP). Under the BCP all the employees (except few employees providing essential services) are Working From  Home (WFH),” company said.

R Systems has been continuously investing in past for building modernised digital infrastructure. These investments were towards migrating physical infrastructure to cloud, enabling secured access of working infrastructure, data to employees while implementing applicable securities protocol under ISMS and other applicable requirements.

R Systems International Ltd is currently trading at Rs96, down by Rs0.2 or 0.21% from its previous closing of Rs96.20 on the BSE.

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