CMS Info Systems reports 14% rise in Q4 profit
Premium- 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
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Cash 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.
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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.
