26 Mar 2024 , 03:17 PM
The promoter of CMS Info Systems, Sion Investment Holdings, plans to sell up to 26.7% stake through block deals for around ₹1,500 Crore, according to sources familiar with the matter speaking to CNBC-TV18. The deal's floor price is set at ₹360 per share, representing a 9% discount to Monday's closing price.
CMS Info Systems reported a strong performance for the October-December quarter of FY24, with a consolidated profit after tax (PAT) of ₹87 Crore, marking a notable year-on-year increase of 14.91% from ₹75.8 Crore recorded in the corresponding quarter of the previous year. On a quarter-on-quarter (QoQ) basis, PAT saw a growth of 3.2%.
The company's consolidated revenue for the reporting quarter stood at ₹582 crore, reflecting a robust year-on-year growth of 19% compared to ₹488.3 crore reported in the same quarter a year ago. Sequentially, revenue increased by 7%.
Earnings per share (EPS) for the December quarter improved to ₹5.56, compared to ₹4.92 in the corresponding quarter of the previous year.
The cash logistics business revenue witnessed significant growth, reaching ₹375 Crore, marking an 11% year-on-year increase.
On the stock market front, shares of CMS Info Systems Ltd closed at ₹398.00 on the BSE, recording a gain of ₹15.40 or 4.03%.
IIFL Securities is facilitating the transaction as the sole broker.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
Download The App Now
Follow us on
2024, IIFL Securities Ltd. All Rights Reserved
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
