Electronics payment focused IT player R S Software is down close to 15%, at Rs. 163 a share, after dismal Q1 financial performance. Infact, share had touched a low of 153.60 in morning trade, which was the 20% lower circuit limit for the day.

Company announced Q1FY16 results after market close yesterday, wherein consolidated revenue was down 7% QoQ and 22% YoY to Rs. 77 crore. Net profit for this Kolkata based software provider contracted sharply to Rs. 11.1 crore in Q1FY16, down from Q4FY15’s and Q1FY15’s Rs. 15.5 crore. Thus, Q1FY16 EPS stands at Rs. 4.61 as against Rs. 26.26 for FY15.

Given the disappointing numbers, company has not declared any dividend for the first quarter. Since it had informed the stock exchanges that the board will consider dividend, then not declaring one, did not go down too well with the market. Thus poor financial show and non-declaration of dividend played double whammy.