SIS skid after after recording PAT of Rs 67 crore in Q2 FY23

3 Nov 2022 , 12:05 PM

Profit before tax stood at Rs 59.38 crore in Q2 FY23, declining 25.4% from Rs 79.59 crore recorded in the corresponding quarter previous year. The companys total expenses jumped 15.24% year on year to Rs 2,718.54 crore in quarter ended 30 September 2022. Cost of materials consumed was at Rs 14.59 crore (up 49.95% YoY) and employee expenses stood at Rs 2,278 crore (up 19.48% YoY). EBIDTA dropped 10.8% to Rs 109.8 crore in Q2 FY23 as against Rs 123.1 crore in Q2 FY22. EBIDTA margin decreased to 4% in Q2 FY23 as compared to 5.1% reported in the same period a year ago. The companys revenue from India Security Solution business stood at Rs 1,149.12 crore (up 21.56% YoY), revenue from International Security Solutions was at Rs 1,161.32 crore (up 0.43% YoY) and revenue from Facilities management business stood at Rs 472.38 crore (up 40.45% YoY) in Q2 FY23. The Cash Logistics segment continues its strong revenue growth with a revenue growth of 41.5% over Q2 FY22 driven by new wins in door-step banking and cash processing outsourcing business. Commenting on the performance, Rituraj Kishore Sinha, group managing director said, ?On the completion of 5 years since being listed, which included two difficult years impacted by the COVID-19 pandemic, we look back with a quiet sense of satisfaction of having built a highly stable and predictable business, resilient to economic variations, derisked from a geography and industry perspective, which consistently delivered revenue and business growth every year and continued distributions to shareholders in the form of dividends and buybacks every year.? SIS is engaged in rendering security and related services consisting of manned guarding, training, and indirectly engaged in paramedic and emergency response services; loss prevention, asset protection and mobile patrols; facility management services consisting of cleaning, housekeeping and pest control management services in the areas of facility management. Powered by Capital Market – Live News