RS Software Q2 profit rises 33% to Rs 12.70 cr

Company reported profit of Rs 9.55 crore in the second quarter of last fiscal

RS Software, which provides technology solutions to global electronic payments industry, today posted 33% growth in net profit at Rs 12.70 crore for the quarter ended September 30.

The Kolkata-based company had profit of Rs 9.55 crore in the second quarter of last fiscal.

In line with its consistent growth in business, the revenue increased by 25% year-on-year to Rs 105.54 crore in the second quarter of 2013-14 fiscal, the company said in a filing to the BSE.

The earnings per share improved from Rs 9.14 in Q1 FY14 to Rs 10.47 in Q2 FY14.

"We see demand recovery in the US which bodes well for our business given our exposure to the market," RS Software India Chairman & Managing Director Raj Jain said.

The company added three clients in this quarter.

"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," Jain said.

Shares of the company today closed nearly 1% down at Rs 140.80 on the BSE.

RS Software India is a vertically integrated technology solution provider to payment networks, processors, acquirers, issuers, ISOs and other major players in the electronic payments domain.