Security and Intelligence Services on Wednesday reported a marginal increase in net profit to Rs 60 crore for the first quarter ended June 30. The cash logistics and security services firm had posted a net profit of Rs 58 crore in the year-ago period.
Revenue for the quarter increased by 10 per cent to Rs 2,379.3 crore, from Rs 2,166.7 crore a year ago, SIS Ltd said in a regulatory filing. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) or operating profit stood at Rs 121 crore at the end of June 30.
The cash logistics segment continues on its steady path of portfolio rationalisation and margin improvement, it said, adding the company managed to increase EBITDA over the same period with margins reaching 10.1 per cent in the first quarter.
Commenting on the performance, SIS managing director Rituraj Sinha said, “With June 2021 monthly revenue run rate of Rs 788 crore, stable and improving margins and a strong balance sheet on the back of record collections, Q1FY22 marks a solid start to FY22".
The company, which is part of the contact-sensitive services sector, has vaccinated 1.94 lakh employees (92 per cent of employees) with the first dose and 33,000 employees (17 per cent of employees) with both the doses of vaccine and are targeting 100 per cent vaccination by September, he added.