SIS logs 8% rise in net profit to Rs 90 cr aided by increase in revenue

The cash logistics segment continues its strong revenue growth of 24% over the same quarter of the previous fiscal, driven by new wins in door-step banking and cash in transit business, it said

SIS Ltd on Wednesday reported an 8 per cent rise in net profit to Rs 90 crore for the first quarter ended June 30, aided by increase in revenue.

The company had posted a net profit of Rs 83 crore in the April-June quarter of the preceding fiscal.

Its revenue from operations for the quarter increased by 11 per cent to Rs 2,976.7 crore from Rs 2,678.2 crore a year ago, the multinational firm in security, facility management and cash logistics solutions said in a statement.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) or operating profit rose by 15 per cent to Rs 139 crore as against Rs 121 crore in the same quarter a year ago.

SIS Group managing director Rituraj Sinha said, "The first quarter results signal a solid start to FY'24. Trend of 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, it said.