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SIS posts Q2 net profit of Rs 44 cr

Business Finance

Press Trust of India  |  New Delhi 

Security and Intelligence Services (SIS) Wednesday reported a 26 per cent decline in its net profit to Rs 43.7 crore for the second quarter ended September 30.

The cash logistics services and security firm's consolidated net profit in the corresponding July-September quarter of 2017-18 stood at Rs 58.9 crore, the company said in a BSE filing.

However, total income during the quarter increased by 14.2 per cent to Rs 1,695 crore as against Rs 1,484 crore in the same period a year ago, the company said.

During the second quarter of the previous fiscal, there was one-off tax benefit of Rs 6.7 crore and sale of 10 per cent stake in SXP for Rs 21 crore.

So, on normalised profit after tax basis, there was 68.7 per cent jump in profit to Rs 46.96 crore as against Rs 27.84 crore in the same quarter a year ago, it said.

SIS Managing Director Rituraj Sinha said "the company has shown strong revenue growth this quarter across all its segments and this coupled with our acquisitions takes us closer to our vision to become the No 1 company in Security, Cash Logistics and Facility Management."

Acquisition of SLV enhances visibility in the NCR region while acquisition of Rare Hospitality gives greater penetration in the valuable healthcare domain, he said.

The company added some prestigious customers this quarter and this gives strong visibility for the rest of the year, he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, October 24 2018. 21:35 IST