Companies

SIS shares jump 15% on strong Q2 results

PTI New Delhi | Updated on January 09, 2018 Published on November 23, 2017

Shares of Security and Intelligence Services (India) soared 15.5 per cent today after the company reported over four-fold jump in net profit for the quarter ended September 30.

The stock jumped 15.49 per cent to settle at Rs 1,032.80 on BSE. Intra-day, it surged 19.65 per cent to Rs 1,070 -- its 52-week high.

At NSE, shares of the company zoomed 14.62 per cent to end at Rs 1,032.15.

The company’s market valuation went up by Rs 1,016.42 crore to Rs 7,558.42 crore.

Profit rose to Rs 58 crore in the quarter, from Rs 14 crore in the year-ago quarter, according to company’s first quarterly results issued after its IPO in August.

Total revenue rose to Rs 1,460 crore, of which the domestic market accounted for Rs 687 crore during the quarter.

Total revenue for the year-ago period were Rs 1,076 crore. Revenue from the company’s business in Australia rose 31 per cent to Rs 773 crore during the July-September quarter, the Delhi-based security services and facility management company said in a release.

Commenting on the company’s performance, Rituraj Sinha, Group MD said, “We are pleased to report that all businesses of the SIS Group reported strong growth in revenues and profits for both July-September quarter as well as the half yearly period of the FY’18“.

“Improvement in financial performance was outcome of a conscious ATM portfolio rationalisation decision and elimination of costs associated with such contracts in the cash management sector,” Sinha added

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Published on November 23, 2017
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