SIS Q1 net profit up 39% at ₹83 crore

PTI | | Updated on: Jul 27, 2022
Rituraj Sinha, Group MD, SIS Ltd.

Rituraj Sinha, Group MD, SIS Ltd. | Photo Credit: KAMAL NARANG

SIS Ltd has reported a 39 per cent rise in net profit to ₹83 crore for Q1 ended June 30, aided by higher revenue.

The company had posted a net profit of ₹60 crore in Q1 of the preceding fiscal.

Its revenue for Q1 increased by 13 per cent to ₹2,678.2 crore, a $1.3 billion multinational firm in security, facility management, and cash logistics solutions said in a statement on Wednesday.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) or operating profit remained flat at ₹121 crore as of June 30 this fiscal.

SIS managing director, Rituraj Sinha said, "Our Q1 FY23 results illustrate the predictability of our business model as an essential services business, which continues to grow at a healthy rate, with the economy growing post-pandemic".

The cash logistics segment continues its strong revenue growth of 46 per cent over Q1FY22, driven by new wins in door-step banking and cash in-transit business, it said.

Published on July 27, 2022
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