SIS Ltd Q3 net profit rises 3% to Rs 103.4 crore

SIS Ltd on Thursday reported a 3 per cent increase in net profit to Rs 103.4 crore for the third quarter ended December 2022.

The company -- which is into facility management, security and cash logistics -- had posted a net profit of Rs 100.6 crore in the corresponding quarter of 2021-22.

On a sequential basis, its net profit rose 53.4 per cent from Rs 67.4 crore posted in the quarter ended September 2022, SIS said in a statement.

SIS, a USD 1.3 billion Indian Multinational and Essential services player with over 2,70,000 employees, posted revenue growth of 11.7 per cent to Rs 2,904.3 crore compared to Rs 2,600.8 crore a year ago.

SIS Group Managing Director Rituraj Sinha said the margins have increased this quarter, with consolidated EBITDA margins increasing from 4 per cent in Q2 FY23 to 4.4 per cent in Q3 FY23.

"We continue to focus on revenue growth and profit improvement initiatives," he said.

The cash logistics segment continues to post strong revenue growth with an 11.5 per cent rise over the previous quarter and a 51.7 per cent increase over Q3 FY22, driven by new wins in door-step banking and ATM business.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) margins for the quarter were 15.2 per cent, an 85.6 per cent increase over the same quarter the previous year.