CMS Info Systems Q3 FY2023 profit grows by 26% to Rs 76cr

CMS Info Systems has reported profit after tax (PAT) of INR 76 crores for the third quarter of the fiscal year 2023 (Q3 FY2023), which is an year-over-year (YoY) growth of 25.8%.

The Indian business services company is engaged in providing banking logistics and technology services. Its revenue for the quarter ended 31 December 2022 was INR 493 crores, which is a 21.7% growth YoY.

During the reported quarter, CMS Info Systems bagged a “large” contract from a major bank for its propriety ATM security software solution.

The cash management company claimed that its AIoT Remote Monitoring business surpassed the milestone of 20,000 live sites.

Rajiv Kaul — CMS Info Systems Executive Vice Chairman, Whole Time Director and CEO said: “Despite macro challenges, we have delivered a strong Q3 with industry-leading growth and earnings, which are up 26% YoY. This clearly is a reflection of our strong client engagement, robust business model and our employees’ unwavering dedication.

“We continue to prioritize facilitation of seamless commerce through our integrated business services platform to BFSI and Retail sector. Our technology led solutions will enable growth as we focus to expand our market share. Looking ahead, and beyond, our longer-term business forecast continues to be strong.”