 "R Systems Sept qtr Net surges three-fold to Rs 18.05 cr")
IT firm R Systems International today reported over three-fold increase in consolidated net profit at Rs 18.05 crore for its third quarter ended September 30.
The company had reported net profit of Rs 4.62 crore in the July-September quarter of last fiscal.
The company's income from operations stood at Rs 160.42 crore during second quarter 2013-14, up 40.09% compared to Rs 114.51 crore in the same period last fiscal, the company said in a BSE filing.
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Overall expenses during the quarter under review were at Rs 136.39 crore, an increase of 26.86% compared to Rs 107.51 crore in the same period last year.
Commenting on the results, R Systems International's CMD Rekhi Singh said: "Steep rupee depreciation coupled with improved utilisation levels led to improved margins in Q3-2013. The global currency market remains volatile with the rupee depreciating more than 10% during the quarter. We are using hedging strategy to protect our margins."
The company has declared a second interim dividend of 85% or Rs 8.50 per share, statement added.
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