SIS’ Profit Rises 8% To Rs 90 Cr In Q1

SIS reported an 8 per cent increase in net profit to Rs 90 crore for the first quarter ended 30 June, supported by higher revenue.

In the preceding fiscal year’s April-June quarter, the company earned Rs 83 crore in net profit.

The worldwide corporation in security, facilities management, and cash logistics solutions said in a statement that its revenue from operations for the quarter climbed by 11 per cent to Rs 2,976.7 crore from Rs 2,678.2 crore a year ago.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) or operational profit increased by 15 per cent to Rs 139 crore from Rs 121 crore in the previous quarter.

SIS Group managing director Rituraj Sinha said, “The first quarter results signal a solid start to FY24. The trend of the last few quarters demonstrates that growth is back across segments.”

Margin improvement actions are also yielding results. The cash logistics segment continues its strong revenue growth of 24 per cent over the same quarter of the previous fiscal, driven by new wins in door-step banking and cash in transit business, he said.

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