Latest News | CMS Info Systems' Q4 Net Profit Jumps 23 Pc
Get latest articles and stories on Latest News at LatestLY. Banking logistics and technology player CMS Info Systems on Wednesday reported a 23 per cent jump in its March quarter net profit at Rs 99.4 crore.
Mumbai, May 15 (PTI) Banking logistics and technology player CMS Info Systems on Wednesday reported a 23 per cent jump in its March quarter net profit at Rs 99.4 crore.
The company had reported a post-tax profit of Rs 80.6 crore in the year-ago period.
The company reported a 25.1 per cent growth in revenue to Rs 627 crore for the March quarter compared to the year-ago period.
For 2023-24, its net profit moved up to Rs 374.5 crore from Rs 304.2 crore on the back of an 18.3 per cent growth in revenue to Rs 2,265 crore.
Its executive vice chairman and chief executive vice chairman Rajiv Kaul said the current split between the managed services and technology solutions (41 per cent) and the cash business (61 per cent) will broadly remain unchanged in the new fiscal as well.
Kaul said that the topline will touch the upper end of the previously announced guidance to have the revenues at Rs 2,500-2,700 crore.
The company has cash and equivalents of over Rs 780 crore and is debt-free on a net basis, Kaul said, adding that it has been on the lookout for acquisitions to grow the business over the last six months and will continue to chase opportunities.
One of the areas in which it will either look to partner or acquire will be on the software front, he said, reminding that under its medium-term vision, it is targeting to get 10 per cent of its topline from software by FY27.
The company won new orders of Rs 1,850 crore in FY24, and the overall book is twice that of the level it was in the year-ago period, Kaul said.
Having started the businesses of specialized logistics to transport other precious items beyond cash and debt collection for non-bank lenders in FY24, the company will look to deepen the two new businesses in the new fiscal year, Kaul said, adding that there is no plan to incubate any new businesses.
The company's board on Wednesday recommended a dividend of Rs 3.25 per equity share, which takes the overall dividend in FY24 to Rs 5.75.
The CMS scrip closed 1.59 per cent up at Rs 409.50 a piece on the BSE on Wednesday, as against a 0.16 per cent correction on the benchmark.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)