Security and Intelligence Services soars 15% post Q2 results

The stock soared 15% to Rs 1,029 on the BSE, its highest level since listing on August 10, 2017.

Security and Intelligence Services (India) soared 15% to Rs 1,029 on the BSE after the company reported more than four-fold jump in net profit at Rs 58.9 crore in September quarter (Q2FY18), on the back of higher other income.  It had logged profit of Rs 2.13 crore in the same quarter a year ago.

The company’s revenue from operations grew 35.7% at Rs 1,460 crore against Rs 1,076 crore in the corresponding quarter of previous fiscal. Other income increased by 12 times to Rs 24.5 crore from Rs 2.1 crore in previous year quarter.

EBITDA (earnings before interest, taxes, depreciation and amortization) margin improved to 5.07% in Q2FY18 from 4.5% in Q2FY17.

Security and Intelligence Services is a leading provider of private security and facility management services in India. The portfolio of services includes Private Security Services and Facility Management Services.

At 09:53 AM; the stock was up 12% at Rs 1,004 on the BSE, as compared to 0.05% rise in the S&P BSE Sensex. A combined 192,493 shares changed hands on the counter on the BSE and NSE so far.  It was trading at highest level since its listing on August 10, 2017.