BackCMS Info Systems reports 14% rise in Q4 profit
The profit came on the back of ₹444.1 crore in revenues, up 8% on a year-on-year (y-o-y) basis and expansion in its operating margin by 280 basis points (bps) y-o-y to 26.4% in Q4
PremiumCash management and payment solutions company CMS Info Systems on Tuesday reported a consolidated net profit of ₹64 crore in the three months through March, up 14% from the same period last year.
This came on the back of ₹444.1 crore in revenues, up 8% on a year-on-year (y-o-y) basis and expansion in its operating margin by 280 basis points (bps) y-o-y to 26.4% in Q4. While its cash management services posted earnings before interest and taxes (EBIT) of ₹75.6 crore in Q4, that of its managed services division stood at ₹26.3 crore in the same period.
The company said it has handled total currency of ₹11.2 trillion in FY22, a 22% growth over the previous financial year, indicating robustness of cash usage. Its cash management network grew 10% y-o-y to over 113,000 points as of March 2022.
“Our company has delivered strong performance, growing revenue by 22% and profit after tax (PAT) by 33% in FY22. This is a result of volume growth, market share gains, improvements activity levels and benefits of operating leverage due to route density and automation," said Rajiv Kaul, executive vice-chairman, whole time director and chief executive, CMS Info Systems.
Kaul said that the company’s new business segments are growing robustly and is focused on continuing the growth trajectory.
Its businesses include ATM and retail cash management, currency chest automation, bullion logistics, banking automation solutions, brown label ATM and managed services, multi-vendor software solution, ATM security software, AI-based remote monitoring services and card issuance, management and personalization.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
