SIS Ltd on October 30 posted an 11.6 per cent rise in net profit at Rs 75.3 crore in the second quarter ended September 2023. The net profit of the company in the July-September quarter of the preceding fiscal stood at Rs 67.4 crore.
The company's revenue in the quarter increased by 11 per cent to Rs 3,073.6 crore, from Rs 2,767.7 crore a year ago, the firm engaged in security, facility management and cash logistics solutions said in a regulatory filing. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) or operating profit improved by 31.6 per cent to Rs 144.5 crore as of September 30 this fiscal, from Rs 109.8 crore in the same period a year ago.
The cash logistics segment continues its strong revenue growth with 22 per cent growth driven by new wins in cash in transit (CIT) business, it said. SIS Group Managing Director Rituraj Kishore Sinha said, "SIS, an essential services leader, continues its growth momentum crossing the Rs 1,00-crore monthly revenue milestone. Significantly higher margins of the security solutions India segment aided the improving results.
Cash logistics business continues its high performance trend with a focus on newer solutions with a higher margin profile, he said, adding, with the cash logistics business on a high-performance trajectory, the company is now evaluating shareholder value unlocking options.
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