CMS Info Systems, a company specializing in cash management and payment solutions, reported a 23.3% year-on-year (YoY) increase in consolidated profit after tax (PAT) to Rs 99.4 crore for the January-March quarter of FY24, up from Rs 80 crore recorded in the same period last year.
Sequentially, the profit grew by 14.25%.
Consolidated revenue for the quarter stood at Rs 627 crore, marking a 25.1% YoY growth compared to Rs 501 crore recorded in the corresponding quarter of the previous year. On a quarter-on-quarter (QoQ) basis, revenue increased by 7.73%.
CMS’ business segments encompass cash logistics, banking automation, managed services, remote monitoring solutions, and technology solutions.
The cash logistics business revenue for Q4 increased to Rs 388.2 crore, reflecting an 11% YoY growth.
Revenue from managed services and card services for Q4 surged 56% YoY to Rs 264.7 crore.
Rajiv Kaul, Executive Vice Chairman, Whole Time Director, and CEO of CMS Info Systems, commented, “This marks our eighth consecutive quarter with 20%+ YoY earnings growth. Our Managed Services & Technology Solutions segment now contributes 39% of our overall revenues. We are witnessing robust growth in our Retail, AIoT Remote Monitoring Solution, and Managed Services segments. We are reasonably confident of achieving the upper end of our FY25 revenue guidance of Rs 2500-2700 crore.”
For the full fiscal year FY24, profit increased by 23.1% YoY to Rs 374.5 crore, while consolidated revenue grew by 18.3% YoY to Rs 2,265 crore.
The company’s board proposed a final dividend of Rs 3.25 per equity share of face value Rs 10 each fully paid up. The total dividend for FY24 would amount to Rs 5.75 per equity share.
In the trading session on May 15, the stock closed at Rs 408.90 per share on the NSE, marking a 1.4% increase compared to the previous day’s close.
