SIS Q2 net dips marginally to Rs 67 cr

NewsDrum Desk
New Update

New Delhi, Nov 3 (PTI) SIS Ltd has posted a marginal decline of 1.46 per cent in net profit at Rs 67.4 crore for the second quarter ended September 30.

The net profit of the company in the July-September quarter of the preceding fiscal stood at Rs 68.4 crore.

Its revenue for the quarter increased by 14 per cent to Rs 2,767.7 crore, from Rs 2,430.9 crore a year ago, the firm engaged in security, facility management and cash logistics solutions said in a statement on Thursday.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) or operating profit declined by 11 per cent to Rs 109.8 crore as of September 30 this fiscal, from Rs 123.1 crore in the same period a year ago.

The cash logistics segment continues its strong revenue growth with a revenue growth of 4.2 per cent over previous quarter and 41.5 per cent over Q2 FY22, driven by new wins in door-step banking and cash processing outsourcing business, it said.

The EBITDA margins also continue to improve and is a testament to the high margin nature of the cash logistics segment, it said.

It further said that the domestic security solutions segment witnessed a revenue rise of Rs 1,150 crore from Rs 945 crore in the same quarter a year ago.

The company has consistently delivered revenue and business growth every year and continued distributions to shareholders in the form of dividends and buybacks every year since its listing 5 years ago, SIS group managing director Rituraj Sinha said. PTI DP DRR