R Systems September quarter net profit surges three-fold to Rs 18.05 crore

NEW DELHI: 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 per cent compared to Rs 114.51 crore in the same period last fiscal, the company said in a BSE filing.

Overall expenses during the quarter under review were at Rs 136.39 crore, an increase of 26.86 per cent 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 per cent during the quarter. We are using hedging strategy to protect our margins."

The company has declared a second interim dividend of 85 per cent or Rs 8.50 per share, statement added.