Net income up 48% to Rs 60.2 cr

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

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

CMS Info is the largest cash management company in the country based on the number of ATMs and the number of retail withdrawal locations, as well as one of the largest cash management companies in the world.

Its businesses include retail ATM and cash management, safe deposit box automation, bullion logistics, banking automation solutions, brown label ATMs and managed services, multi-vendor software solutions, remote monitoring services and card issuance and management customization.

Commenting on the results, Rajiv Kaul, Executive Vice President and Managing Director of CMS, said, “We are seeing a strong recovery with activity levels across our network of over 1,45,000 touchpoints. As a result, our volume and market share have increased across all of our cash management, ATM managed services and technology solutions verticals.”

Total currency in circulation continues to grow at a healthy pace and crossed Rs 30 lakh crore in December, he said, adding that his network continues to see a strong pipeline of ATM RFPs which demonstrates the Banking industry emphasis on ATM refresh and expansion. network.

The pipeline grows to more than 30,000 ATMs over the next 12 months.

Revenue from cash operations for the quarter increased by 19.4% to Rs 292.4 crore, giving it an operating profit of Rs 70.7 crore, up 22.8%.

Total currencies managed by CMS Info Systems increased by 18.1% from Rs 2.37 lakh crore to Rs 2.80 lakh crore in the quarter under review.

“Our global cash management network grew to 1,12,000 in December 2021, representing growth of 15.4% as we continue to expand our network across the country,” he said.

Revenue from the managed services business for the quarter was Rs 112.7 crore, up 51.2% on an annualized basis. The total ATM network under managed services grew 1.4x to 11,000 and it has an order book of more than 7,000 ATMs for its proprietary CMS Algo ATM security software, he said. declared.

The CMS Info Systems counter gained 2.75% to Rs 272.75 on BSE on Friday.

(With PTI entries)

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Posted: Saturday 05 February 2022, 15:44 IST

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