SIS Q1 net profit jumps 90 pc to Rs 75 cr

Cash logistics firm Security and Intelligence Services (India) on Wednesday reported a jump of about 90 per cent in its consolidated net profit to Rs 74.90 crore for first quarter ended June 30. The security services firm had posted a net profit of Rs 39.50 crore in the year-ago period.

Revenues for the latest quarter grew 24.6 per cent to Rs 2,008 crore as against Rs 1,611.40 crore a year ago, SIS said in a release. "We ended the quarter with a monthly run rate of Rs 670 crore and we are comfortably placed for achieving our growth targets," said Rituraj Sinha, Group Managing Director, SIS.

In terms of India security business, the company said revenues crossed Rs 800 crore for the first time in June 2019 quarter, with a monthly revenue run rate of Rs 272 crore. The international security business fetched Rs 913.40 crore, while revenues from facility management stood at Rs 289.70 crore in the June quarter.

Strong margin uptick in international business reinforces the margin accretive potential of the recent international acquisitions in Singapore and New Zealand. Segment ended June with a monthly run rate of Rs 300 crore, SIS said in the release. Stock of SIS closed at Rs 889.90 on the BSE, up 7.59 per cent from previous close.