R Systems International Ltd. Results

9MCY24 & Q3CY24 Result Announced for R Systems International Ltd.

IT Consulting & Software company R Systems International announced 9MCY24 & Q3CY24 results Q3CY24 Financial Highlights: Revenue Rs. 4,441 million (USD 53.0 million); QoQ growth of 2.8%. Adj. EBITDA Rs. 796 million (USD 9.5 million) i.e 17.9% as against 16.5% for Q2CY24. Net profit after taxes Rs. 398 million (USD 4.8 million). 5 key wins during the quarter. 9MCY24 Financial Highlights: Revenue Rs. 12,928 million (USD 155.0 million); YoY Growth of 1.9% (Growth of 3.5% excluding onetime fee). Adj. EBITDA Rs. 2,110 million (USD 25.3 million) i.e 16.3% as against 15.8% during similar period last year (14.5% margin net of one-time fee), YoY Growth of 16.6% excluding one-time fee. Net profit after taxes Rs. 922 million (USD 11.1 million) Nitesh Bansal, Managing Director, and CEO, said: “We concluded the quarter with 2.8% QoQ revenue growth along with robust performance on margins. Further, the Board has announced second interim dividend of Rs. 6.5/- per share for the year 2024, showing our commitment to shareholders.” “ We are deepening our engagement with customers, engaging in more value adding initiatives along with strengthening hyperscaler partnerships to offer niche solutions for long term sustainable growth. We continued to invest in emerging technologies e.g. launch of OptimaAI – a GenAI suite for enterprises and Chaos Engineering Integrated DR Model to enhance business continuity and resilience.” Nand Sardana, CFO, said: “R Systems expanded quarterly Adj. EBITDA margin to 17.9% as against 16.5% last quarter. We improved utilization from 82.8% to 83.5%, which helped us in improving margins, despite continuing our investments in sales and newer technologies.” “The Company has expanded its geographical footprints through a new entity in Mexico along with enhancing management bandwidth with the induction of Satyadeep Mishra as Chief Human Resource Officer, Srikara Rao as CTO Cloud and Security Services and Shardul Sangal as SVP- Global Delivery, among others.”

Q1FY25 Quarterly Result Announced for R Systems International Ltd.

IT Consulting & Software company R Systems International announced Q1FY25 results: Financial Highlights: Revenue Rs 4,320 million (USD 51.8 mn); YoY Growth of 6.2%. Adj. EBITDA: Rs 714 million (USD 8.6 mn) i.e 16.5% as against 14.7% for Q2 2023. Net profit after taxes Rs 249 million (USD 3.0 mn). 8 key wins during the quarter. Nitesh Bansal, Managing Director, and CEO stated, “We concluded the quarter with 3.7% QoQ revenue growth and good new logo additions with robust performance on margins. Our strategic realignment of go to market on industry lines has helped us in navigating through challenging market conditions in the last couple of quarters” He added, “We are deepening our engagement with customers, engaging in deeper and more value adding initiatives along with deepening hyperscaler partnerships to develop niche solutions for long term sustainable growth.” Nand Sardana, CFO said, “R Systems expanded quarterly EBITDA margin to 16.5% post absorbing the impact of salary hikes for our offshore centres as against 14.7% during same period last year.” He added, “We are continuing our investment in AI, data and cloud technologies along with expanding vertical and technology focused sales and marketing spends to fuel future growth.”

Q1CY24 Quarterly Result Announced for R Systems International Ltd.

IT Consulting & Software company R Systems International announced Q1CY24 results: Financial Highlights: Revenue Rs 4,166 million (USD 50.2 million); YoY Growth of 3.1%. Adj. EBITDA 600 million (USD 7.2 million) i.e 14.4% as against 13.4% for Q1FY23. Net profit after taxes Rs 275 million (USD 3.3 million). 6 key clients added during the quarter. Nitesh Bansal, Managing Director, and CEO stated, “We have stepped into CY 2024 with excitement about our GTM motion, with vertical and horizontal alignment of delivery and sales operations to develop more meaningful relationships with our customers We are also developing partnerships with ecosystem players such as hyper scalers, automation & AI technology providers and global enterprise software providers Our AI and Cloud first approach is helping us bring positive traction on large deals and building robust sales funnel for large deals.” “We welcome Mr. Sanjay Sahay as Chief Marketing Officer and I am sure that his marketing acumen will be instrumental in elevating our brand as well as create more digital engagement for our customeRs I am also delighted to share that R Systems has been recognised as a major contender in our first ever Everest Peak Matrix Assessment for software product engineering. Getting recognised by leading research analyst and deal advisory agencies is an important part of growth strategy and this is the first step towards the same.” Nand Sardana, CFO said, “We expanded our sustainable operating margins, excluding the RSU expense, through improved utilization. In this current challenging environment, we are continuing to invest in newer technologies, innovation, sales engine, and branding for long term profitable growth.”

Q4CY23 Quarterly & CY23 Annual Result Announced for R Systems International Ltd.

IT Consulting & Software company R Systems International announced Q4CY23 & CY23 results: CY23 Financial Highlights: Revenue reached Rs 16,845 million (USD 204.0 million), marking a YoY Growth of 11.1% (9.9% net of one-time fee). EBITDA stood at Rs 2,645 million (USD 32.0 million), with a margin of 15.7% (14.7% margin net of one-time fee), showing a YoY increase of 27.0%. Net profit after taxes amounted to Rs 1,401 million (USD 17.0 million). Continued addition of new logos with traction in large deal wins. Q4CY23 Financial Highlights: Revenue reached Rs 4,163 million (USD 50.0 million), reflecting a YoY Growth of 4.2%. EBITDA stood at Rs 643 million (USD 7.7 million), with a margin of 15.4% compared to 14.9% for Q4 2022, showing a YoY increase of 7.7%. Net profit after taxes amounted to Rs 459 million (USD 5.5 million). Nitesh Bansal, Managing Director, and CEO stated, “CY 2023 was a transformation year for R Systems to become a Blackstone portfolio company followed by industry vertical and horizontal alignment of delivery and sales operations to deliver successful digital transformation for our marquee customers. We are seeing early signs of these changes bringing us positive traction on large deals, with few wins already during last year, along with building robust sales funnel for large deals to deliver profitable growth in CY 2024”. He added, “The Company expanded the management bandwidth with the induction of Chief Customer Officer, among others and continued our investment in sales and building competencies around new technologies. The Company has set up a centre of excellence on applied AI for sustainable systems in partnership with IIT Delhi. I am delighted to share that our Company has been certified as a Great Place To Work® in the countries where we have permanent employees – this includes India, USA, Romania, Poland and Singapore”. Nand Sardana, CFO said, “Macro-economic situation has impacted the revenue growth over the year, but the Company has been able to expand the sustainable operating margins through efficient operations and cost optimization. We are committed to resilient, agile, and efficient ways of working to continue our margin expansion program”.