CMS Info Systems Q1 Net Profit Drops 11% to Rs 84 Cr

Mumbai: Cash logistics major CMS Info Systems on Monday reported a nearly 11 per cent drop in its June quarter net profit to Rs 84 crore.

The total revenue grew by just 1.2 per cent year-on-year to Rs 635 crore, while the pre-tax profit margin expanded by nearly 2 percentage points to 27.2 per cent, according to a statement.

It was a seasonally weak quarter with once-in-a-decade industry disruption due to ATM (automated teller machines) cash supply, the company said.

“Q1 tested our industry with the sharpest currency-supply disruption in a decade, impacting ATM transaction volumes,” its executive vice chairman and chief executive Rajiv Kaul said.

Its revenue from the services vertical grew by over 9 per cent to its highest Rs 625 crore, it said.

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