New Delhi, Nov 23 (PTI) Shares of Security andIntelligence Services (India) soared 15.5 per cent today afterthe company reported over four-fold jump in net profit for thequarter ended September 30.
The stock jumped 15.49 per cent to settle at Rs 1,032.80on BSE. Intra-day, it surged 19.65 per cent to Rs 1,070 -- its52-week high.
At NSE, shares of the company zoomed 14.62 per cent toend at Rs 1,032.15.
The company's market valuation went up by Rs 1,016.42crore to Rs 7,558.42 crore.
Profit rose to Rs 58 crore in the quarter, from Rs 14crore in the year-ago quarter, according to company's firstquarterly results issued after its IPO in August.
Total revenue rose to Rs 1,460 crore, of which thedomestic market accounted for Rs 687 crore during the quarter.
Total revenue for the year-ago period were Rs 1,076crore. Revenue from the company's business in Australia rose31 per cent to Rs 773 crore during the July-September quarter,the Delhi-based security services and facility managementcompany said in a release.
Commenting on the company's performance, Rituraj Sinha,Group MD said, "We are pleased to report that all businessesof the SIS Group reported strong growth in revenues andprofits for both July-September quarter as well as the halfyearly period of the FY'18".
"Improvement in financial performance was outcome of aconscious ATM portfolio rationalisation decision andelimination of costs associated with such contracts in thecash management sector," Sinha added. PTI SUMBAL.
This is unedited, unformatted feed from the Press Trust of India wire.