KOLKATA:
RS Software (India) Ltd. (BSE: 517447; NSE: RSSOFTWARE), the leading vertically integrated technology solution provider to the global electronic payments industry today announced its financial performance for the fiscal 17-18 and the fourth quarter ended March 31, 2018.
Revenue from business in FY17-18: Rs. 624M
Revenue from business in Q4 FY17-18: Rs. 153M
Commenting on the business performance, Raj Jain, Chairman & Managing Director, RS Software (India) said, “Fiscal 17-18 has been a growth year for us. Our annual business revenue has grown in constant currency, US$ by 11% YOY, and 13% growth when Q4 in fiscal 17-18 is compared to Q4 of fiscal 16-17. The Company is on track to work towards its strategy of transition to platforms, products and services. The success with platforms is testimony to the execution of our strategy. We have achieved the following:
1) We built and delivered the UPI platform to Indian govt., and this platform is now executing greater than 200 million payment transactions per month.
2) We have delivered the BBPS platform to Indian govt., and 50+ banks and institutions in India have been integrated to this core platform which will be used by several hundred Indians.
3) We have white labelled our platform to one of the top five banks in India, and there are 28000 merchants onboarded to this platform.
4) Our digital merchant acquiring platform is now in Beta stage where we have merchants on boarded from multiple verticals, hospitality, B2B , groceries.
5) Besides these platforms we have built several digital assets/ products which are being incrementally launched in global and India markets.
6) Our cash reserves continue to be healthy, and we are confident of being a leadership company in the exciting world of digital payments, working with new generation technologies, artificial intelligence, machine learning and blockchain. We are in the middle of transition of our strategy to emerge as a platform and products company embedded deeply in the global digital payments space”.
