SIS Q2 net up 74 pc at Rs 76 cr

Security and Intelligence Services (India) Ltd (SIS) on Thursday reported a 74 per cent rise in consolidated net profit at Rs 76 crore for the second quarter ended September 30.

The company's revenue rose 23.6 per cent to Rs 2,089 crore in July-September quarter, SIS said in a regulatory filing.

All four business verticals maintain momentum to deliver 63 per cent year-on-year growth. With Rs 248 crore EBITDA in first half of 2019-20, a standout performance amidst trying macro environment, the company said.

SIS is in the business of security, facility management & cash logistics solutions.

The board of the company also approved the sub-division of equity shares of the company from one equity share of face value of Rs 10 each to two equity shares of face value of Rs 5 each, subject to approval of the members, it added.

"SIS has demonstrated significant resilience in a period of challenging times for the Indian economy. Our nine-quarter revenue CAGR of 5.9 per cent and EBITDA CAGR of 7.1 per cent reinforces the predictability and scalability that underpin the SIS model," Group Managing Director Rituraj Sinha said.

"Our businesses are quite demand inelastic and we are seeing proof of that in the SIS performance amidst the current mood of downturn," he said.

Shares of SIS on Thursday closed 0.87 per cent higher at Rs 943.15 on the BSE.