RS Software (India) Ltd, the leading vertically integrated technology solution provider to the global electronic payments industry; today announced its financial performance for the first quarter ended June 30, 2016.
The company’s consolidated revenue stood at Rs. 28.52 crore in Q1FY17 compared to Rs. 30.06 crore in the QYFY16. Net loss was Rs. 3.91 crore in Q1FY17 compared to Rs. 2.19 crore loss in the previous quarter ended March 31, 2016.
EBIDTA stood at Rs. 4.51 crore in Q1FY17, which is at the same level as on Q4, FY16
Commenting on the results, Raj Jain, Chairman & Managing Director, RS Software India Ltd said, “Our strategy of client diversification is working and revenue from new clients has grown by 300% over the same quarter during the last fiscal year, while the numbers are small, it’s encouraging that we have been able to add 10 new clients in these 12 months. During this quarter we have made major investments in the areas of digital payments, and in strengthening our business development engine that will give results in future quarters. These are reflected in the financial results of the first quarter of this fiscal year. We have achieved a major milestone in delivering India’s major initiative of building digital payment infrastructure, The Unified payment interface (UPI). This was launched by RBI governor on April 11th, 2016. We are pleased that our 25 years of experience in the payments industry has awarded us the privilege of building India’s digital payment infrastructure that will contribute significantly to raise the productivity of the nation and transform the lives of millions of Indians by bringing them into the fold of financial inclusion, amongst the most important initiatives of the Prime minister of India”.