Security and Intelligence Services (India) Ltd (SIS) on Wednesday reported a 32.5 per cent rise in net profit at Rs 78.3 crore for the third quarter ended December 2019. The company, which is also into cash logistics, had posted a net profit of Rs 59.1 crore in the corresponding quarter of 2018-19.
Its revenue increased 18.6 per cent to Rs 2,178.2 crore as compared with Rs 1,836.8 crore in the corresponding period a year ago, SIS said in a statement.
Commenting on the results, SIS Group Managing Director Rituraj Sinha said the company ended the quarter with a monthly run rate of Rs 727 crore and the cash flow generation also improved to generate operating cash flows at 80 per cent of earnings before interest, tax, depreciation and amortization (EBITDA) in October-December period.
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"The net debt/EBITDA is fairly comfortable at 1.2X which gives us a good platform and financial muscle for future organic and inorganic growth. We believe that SIS is well placed to benefit from a potential economic revival, the rapid formalization led by the recent labour reforms and the customer behaviour shifting to a solution led delivery model," he said.
For India security business, revenue rose to Rs 908.9 crore in the quarter with a monthly revenue rate of Rs 304 crore, the company said.The international security business fetched Rs 939.7 crore, while revenues from facility management stood at Rs 332.6 crore in the December quarter.