RS Software (India) said a substantial rise in consolidated net profit for the quarter ended September 2014. During the quarter, the profit of the company rose 43.28% to Rs 166.20 million from Rs 116.00 million in the same quarter previous year.

Net sales for the quarter declined 5.09% to Rs 994.70 million, compared with Rs 1,048.10 million for the prior year period.

Earnings per share for the quarter stood at Rs 13.63, registering 31.44% growth over previous year period.

Commenting on the results, Raj Jain, chairman & managing director, RS Software India said, ''We are pleased about our performance and this is the highest ever profit after taxes we have been able to achieve in the history of the company. We are on track to reduce client concentration and focus at the same time on achieving margin expansion through strong discipline and strategic cost management initiatives. Our goal is to work both on strategic and tactical aspects that impact the rewards to our investors. We have announced dividend every single quarter this calendar year, and in recognition of our strong profit performance in this quarter, the board has announced an interim dividend of 15%. We are very excited about the major growth opportunities emerging in the retail electronic payments globally, and given our 20 years track record in this space, we are well positioned to take full benefit in the medium to long term.''   

Shares of the company declined Rs 81.95, or 11.22%, to settle at Rs 648.55. The total volume of shares traded was 254,519 at the BSE (Friday).