CMS Info Systems, a cash management and payment solutions company, reported a 14.91 percent year-on-year (YoY) jump in consolidated profit after tax (PAT) at Rs 87 crore for the October-December quarter of FY24, against Rs 75.8 crore recorded in the same quarter a year ago. PAT recorded a growth of 3.2 percent on a QoQ basis.
The consolidated revenue for the reporting quarter stood at Rs 582 crore, rising by 19 percent YoY, compared to Rs 488.3 crore recorded in the same quarter a year ago. Revenue was up by 7 percent on a QoQ basis.
Earnings per share (EPS) grew to Rs 5.56 for the December quarter compared to Rs 4.92 in the same quarter a year ago.
Cash logistics business revenue grew to Rs 375 crore, registering a 11 percent YoY increase.
CMS' businesses include cash logistics, banking automation, managed services, remote monitoring solutions, and technology solutions.
Revenue from managed services and card services rose 38 percent YoY to Rs 233 crore.
Rajiv Kaul, Executive Vice Chairman, Whole Time Director and CEO at CMS Info Systems said, “We are happy with the strong growth in revenue and PAT, driven by growth across our platform. We are seeing the benefits from both increased formalization and refresh cycle in the banking sector. Our integrated platform is helping us execute large order book.”
“We have also won new orders and our total order book has grown to Rs 4,400 crore. Our solutions and technology automation capabilities are helping us forge deeper enterprise relationships. Basis the execution and order book, we aim to grow between 17 - 19% in FY24 and have total revenues in the range of Rs. 2250-2300 Cr revenues for FY24,” he added.
In the trading session on January 24, the scrip settled at Rs 381.20 apiece at the BSE, which was 3.02 percent up compared to the previous day's close.
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