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CMS Info System Q3 net profit jumps 48% to Rs 60.2 cr

CMS Info System Q3 net profit jumps 48% to Rs 60.2 cr

The city-based company said its annualised revenue rose 21.4 per cent to Rs 40.37 crore.

The CMS Info Systems counter gained 2.75 per cent to Rs 272.75 on the BSE on Friday.. The CMS Info Systems counter gained 2.75 per cent to Rs 272.75 on the BSE on Friday..

Cash management firm CMS Info Systems, which closed the last IPO of 2021 with a Rs 1,100-crore share sale in the third week of December, has reported a net income of Rs 60.2 crore for the quarter ending December 2021, which was higher by 48 per cent year-on-year, when the company was privately held.

The city-based company said its annualised revenue rose 21.4 per cent to Rs 40.37 crore driven by growth across both cash management and managed services businesses. Its earnings per share for the quarter was Rs 4.07, higher by 48 per cent.

CMS Info is the country's largest cash management company based on number of ATM points and the number of retail pick-up points as well as one of the largest ATM cash management companies worldwide.

Its businesses include ATM and retail cash management, currency chest automation, bullion logistics, banking automation solutions, brown label ATMs and managed services, multi-vendor software solutions, remote monitoring services and card issuances and management personalisation.

Commenting on the earnings, Rajiv Kaul, executive vice-chairman & chief executive of CMS, said, "We are witnessing a strong recovery as activity levels across our network of over 1,45,000 touch-points. This had our volume and market share growing across all our verticals of cash management, ATM managed services and tech solutions."

The total currency in circulation continues to grow at a robust rate and has crossed Rs 30 lakh crore in December, he said, adding its network continued to see a strong ATM requests for proposal pipeline that demonstrates the banking sector's focus on refreshing and expanding the ATM network. The pipeline stands at over 30,000 ATMs over the next 12 months.

Revenue from cash business for the quarter rose 19.4 per cent to Rs 292.4 crore, giving it an operating profit of Rs 70.7 crore, higher by 22.8 per cent.

Total currency handled by CMS Info Systems grew by 18.1 per cent from Rs 2.37 lakh crore to Rs 2.80 lakh crore in the reporting quarter.

"Our overall cash management network grew to 1,12,000 by December 2021, a growth of 15.4 per cent as we continue to expand our network across the country," he said.

Revenue from managed services business for the quarter was Rs 112.7 crore, up 51.2 per cent annualised. Total ATM network under managed services grew 1.4x to 11,000 and it has an order book of over 7,000 ATMs for its proprietary ATM security software CMS Algo, he said.

The CMS Info Systems counter gained 2.75 per cent to Rs 272.75 on the BSE on Friday.

Also read: SBI Q3 net profit surges 62% YoY to Rs 8,431.9 crore

Published on: Feb 05, 2022, 4:52 PM IST
Posted by: Mohammad Haaris Beg, Feb 05, 2022, 4:47 PM IST