Earnings |CMS Info Systems Ltd (NSE:CMSINFO): Q3FY23 Results Out; Total Income rise 21% YoY

CMS Info Systems Ltd (NSE:CMSINFO) is an Indian technology company that provides cash management and payment solutions. The company offers a range of services including ATM outsourcing, cash management, currency processing, and card issuance. CMS Info Systems operates in more than 1,20,000 locations across India and has a presence in several other countries as well. The company is a subsidiary of the multinational technology firm, CMS Group.

CMS Info Systems Ltd, reported strong Q3FY23 results with revenue of Rs 493 crore, representing YoY growth of 21.7%. The company’s EBITDA was Rs 135 crore, showing YoY growth of 28.9%, and EBITDA margin was 27.7%, up by 171 basis points YoY. The company’s PAT was Rs 76 crore, YoY growth of 25.8%. CMS Info Systems reported that its cash management business has expanded to 1,20,000 business points, which is a YoY increase of 9%. The company also reported that it achieved the highest ever quarterly currency throughput of Rs 3.3 trillion, which is a YoY increase of 10.7%. CMS Info Systems has built up a robust order book, with Rs 800 crore of additions in the first nine months of FY23. The company also won a large contract from a leading bank for its propriety ATM security software solution. In addition, CMS Info Systems’ AIoT Remote Monitoring business has crossed the milestone of 20,000 live sites.

Commenting on the performance of the Company, Mr. Rajiv Kaul – 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.”