CMS Info Systems Q1 Profit Up 7.71% to Rs 90.8 cr

Mumbai, Jul 24 (PTI) Cash logistics major CMS Info Systems on Wednesday reported a 7.71 per cent increase in its consolidated net profit to Rs 90.8 crore for the June 2024 quarter.

The city-headquartered entity had reported a post-tax net profit of Rs 84.28 crore in the year-ago period.

Its revenue grew 17 per cent to Rs 387 crore, while the operating profit came at Rs 164 crore, up 8 per cent compared to the year-ago period.

Its vice chairman and chief executive Rajiv Kaul said Q1 is traditionally weak and expressed satisfaction at the strong revenue growth and the margin profile.

"We are reasonably confident of revenue growth being in the 15-19 per cent range to achieve our guidance of Rs 2,600-2,700 crore revenue for FY25," he said.

The flagship cash logistics business revenue grew 10 per cent to Rs 387 crore, while the managed services and technology solutions business grew 31 per cent to 239 crore.

Kaul said the managed services and technology solutions business will cross the Rs 1,000 crore revenue mark in FY25.

The company scrip closed 3.49 per cent up at Rs 558.20 apiece on the BSE against a 0.35 per cent correction on the benchmark.