Security and Intelligence Services (India) Ltd, SIS Group, has reported a 48.5 percent jump in net profit to Rs 107.4 crore for the quarter ended March, despite tough conditions due to COVID-19 pandemic. The company, which is also into cash logistics business, had earned a profit of Rs 72.4 crore in the corresponding January-March quarter of the previous fiscal. Revenue for the quarter increased by 13 percent at Rs 2,209.7 crore as against Rs 1,954.9 crore in the same period a year ago, the company said in a statement.
Over the last 12 quarters, since the IPO, revenues have grown at a quarterly CAGR of 5.8 percent. Earnings before interest, taxes, depreciation, and amortization (EBITDA) or operating profit has shown a quarterly CAGR of 6.9 percent over this period. For the full year 2019-20, the company’s net profit rose by 40 percent to Rs 292 crore from Rs 215 crore in 2018-19. At the same time revenue for the fiscal was up 20 percent at Rs 8,485.2 crore from Rs 7,093.3 crore in the previous fiscal.
“Stellar FY 2020, result amidst slowdown & a global pandemic underlines predictability of our business model…COVID crisis and categorisation of our services as “essential” across India and the world, re-affirms the criticality of these services in our economy and the relative inelasticity of the demand. Our Q4, particularly March 2020 results are testimony to the same,” SIS Group MD Rituraj Kishore Sinha said.
Private security, facility management (Hygiene & Sanitation) and cash logistics have been classified as essential services by the government amid COVID crisis and resultant lockdown, he said, adding all these verticals put together have contributed to good quarterly numbers.
