CMS Info Systems Q1 Results: Net profit grows by 22% to ₹87 crore
₹87 crore for the June 2023 quarter on higher revenue, the firm said in a stock regulatory filing. The firm's revenue grew 13 percent year-on-year to ₹512 crore in the reporting quarter, from which it earned a margin of 29.6 percent.
Apart from this, the firm said the cash logistics business' revenue rose 12 percent to ₹351 crore and gave an operating profit of ₹94 crore, and the revenue from managed services and technology solutions business grew by 17 percent to ₹182 crore, and operational profit of ₹34 crore. During Q1FY24, the company handled the highest-ever quarterly currency throughput at ₹3.3 lakh crore, which was 6 percent more than the 12 trailing months.
Among other things, the firm said it has won ₹150 crore of new orders in the quarter and successfully installed 5,200 plus ATMs for PNB, becoming the largest managed services provider for that bank. Vice-chairman Rajiv Kaul said despite being a traditionally weak quarter, which was further impacted by unseasonal rains affecting pockets of rural consumption, and withdrawal of the 2000 currency notes, the company could earn 22 percent net income.
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