Security and facility management solutions provider SIS Ltd. has posted a consolidated net profit of ₹102.23 crore for the quarter ended March 31 against a loss of ₹39 crore in the year-earlier period. On a quarter-on-quarter basis, profit grew 3%. Revenue from operations rose 10% to ₹2,445.20.
For FY21, net profit rose 62% to ₹367.21 crore while revenue from operations increased 7.56% to ₹9,127.30 crore. “FY21 has been a year of validation. [As much as] 7.6%YoY revenue growth, highest-ever PAT of ₹367 crore and highest-ever OCF generation of ₹640 crore, in a year of GDP contraction,” said Rituraj Kishore Sinha, group MD. Mr. Sinha said being in essential services, the demand for their services has been quite inelastic.
“We were among the least impacted businesses. Our customer base is widespread and sector/ geography-agnostic that has helped us ride out the crisis with minimal disruption. We are needed by customers, in good times, and even more so in a crisis. As economies mature, greater outsourcing by the government leads to lesser volatility risk in economic downturns as we have seen in Australia’s, Singapore’s and New Zealand’s operations performance this year,” he added.