CMS Info Systems reports 14% increase in Q3 FY24 consolidated net profit at ₹87 crore
CMS Info Systems Ltd reported a 14 per cent increase in third quarter consolidated net profit at ₹87 crore against ₹76 crore in the year ago quarter.
The company’s Board of Directors declared an interim dividend of ₹2.50 per equity share of face value of ₹10 each fully paid up.
Revenue from operations (cash management services, managed services, and card services) was up 19 per cent y-o-y at ₹582 crore (₹488 crore in the year ago quarter).
Total income, including revenue from operations and other income, was up 20 per cent at ₹590 crore (₹493 crore).
Cash management services includes ATM cash management services, retail cash management solutions, cash in transit services for banks and other related services.
Managed services includes banking automation product deployment and AMC, Brown Label ATMs and managed services for banks, and remote monitoring Technology solutions. Card services includes revenue from trading in card and card oersonalization services.
Total expenses rose (including purchase of traded goods; employee benefit expenses; finance costs; depreciation and amortisation expenses; service and security charges; vehicle maintenance, hire and fuel cost, etc) by 21 per cent y-o-y to ₹473 crore (₹390 crore).
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Rajiv Kaul – Executive Vice Chairman, Whole Time Director and CEO said, the company won new orders and its total order book has grown to ₹4,400 crore.
“Basis the execution and order book, we aim to grow between 17 per cent – 19 per cent in FY24 and have total revenues in the range of ₹2250-2300 crore for FY24,”he added.