SIS Q1 net profit surges 84% to Rs 40 cr

Security and Intelligence Services (SIS) today reported a 84 per cent jump in its net profit to Rs 39.5 crore for the first quarter ended June 30.

The cash logistics services and security firm's consolidated net profit in the corresponding April-June quarter stood at Rs 21.5 crore in 2017-18.

Revenue during the quarter also increased by 30 per cent to Rs 1,611 crore as against Rs 1,243 crore in the same period a year ago, the company said in a statement.

The security business also saw a strong quarter for new sales with new orders of Rs 17 crore.

With regard to Australian business, it said, the revenue increased to Rs 850 crore as against Rs 600 crore.

Australian business grew by 17 per cent on an organic basis, the highest growth rate in many years, SIS group MD Rituraj Kishore Sinha said.

"The first numbers are a reflection of the robustness of our business model and disciplined execution of operations that stand out in our high growth. We are witnessing increasing benefits of scale that reflect in our PAT margin. Q1 order book gives strong visibility for rest of the year," he said.