RS Software FY18' Q1 loss widens to Rs 5.63 crore

RS Software (India) Limited today reported a consolidated loss of Rs 5.63 crore for the Q1 period, which ended in June, against a loss of Rs 2.21 crore during the same period last year.
Revenue was lower at Rs 19.65 crore for the period under review, against Rs 28.57 crore in the comparable period in 2016-17, the company said.
"We started our journey last year and were confident of our core strengths to leverage the huge opportunity in digital payments. We have as of now healthy cash reserves of Rs 150 crore.
"During the 2016-17 fiscal, RS Software delivered two major payment platforms in India-Unified Payment Interface and Bharat Billing Payment System. These developments will be strengthened further during the 2017-18 fiscal and the company will launch its own payment platforms in emerging markets," RS Software chairman and managing director Raj Jain said.