CMS Info Systems’s net profit’s witnessed a moderation in the growth of net profit due to slower consumption, elections and intense rains in the first half of the current financial year, which impacted realizations. The net profit rose 8% to Rs 91 crore year-on-year basis (Y-o-Y).
Meanwhile, the company recorded a robust growth of 15% in its revenue on yearly basis, driven by strong growth in cash logistics business, which grew by 11% to 1,43,000 and new order wins in managed services and technology business also rose Rs 400 crore.
“We continue to deliver strong 16% revenue growth in H1 and in line with our long-term 17% growth CAGR. Our cash logistics business is performing robustly with a steady 9% revenue growth and gaining share in key growth segments,” Rajiv kaul, whole time director and CEO, CMS Info system.
In the second half of the financial year, the company will focus on accelerating the execution of order book. Three new AI use cases for e-commerce, hospitality and retail customers, and POCs are underway.
From: financialexpress
Financial News
