The newly listed CMS Info Systems gained 1.72% to Rs 277.45 after the company reported a 48% increase in consolidated net profit to Rs 60.24 crore in Q3 FY22 from Rs 40.7 crore posted in Q3 FY21.
Consolidated net sales grew by 21.4% to Rs 403.65 crore in Q3 FY22, driven by growth across both Cash Management and Managed Services businesses. Profit before tax surged 37% to Rs 81.26 crore in Q3 FY22 as against Rs 59.32 crore registered in Q3 FY21.Adjusted EBITDA for the quarter stood at Rs 108.3 crore, rising 42.5% year on year. The company witnessed Operating margin expansion of 340 basis points to 26.1% in Q3 FY22.
On the operational front, total currency handled by CMS grew by 18.1% from Rs 2.37 trillion in the quarter ending 31 December 2020 to Rs 2.80 trillion in the quarter ending 31 December 2021 indicating the robustness of cash usage. Cash management network grew to 112,000 points by 31 December 2021, indicating a growth of 15.4% year on year.
Revenue from operations for Cash Business for the quarter ending 31 December 2021 was Rs 292.4 crore, higher by 19.4% YoY. Meanwhile, revenue from operations for the quarter ending 31 December 2021 stood at Rs 112.7 crore, higher by 51.2% YoY.
Commenting on the results, Rajiv Kaul, executive vice-chairman and CEO of CMS Info Systems said, We are witnessing a strong recovery in the economy and activity levels across our network of over 145,000 points. With ongoing consolidation trends in the sector, we continue to grow our volume and market share strongly across all our verticals of Cash management, ATM Managed Services and Tech Solutions. The company has grown PAT at 32% CAGR from FY19 to FY21 and we are focused on continuing our strong numbers.
CMS Info Systems is India's largest cash management company based on number of ATM points and number of retail pick-up points as of March 2021, as well as one of the largest ATM cash management companies worldwide based on number of ATM points as of March 2021.
Shares of CMS Info Systems entered bourses on 31 December 2021. The scrip was listed at Rs 218.50, representing a premium of 1.16% to the initial public offer (IPO) price of Rs 216. So far, the scrip has hit a high of Rs 236.45 and a low of Rs 215. Over 10.48 lakh shares of the company have changed hands in the counter till now. The initial public offer (IPO) of CMS Info Systems was subscribed 1.95 times. The issue opened for bidding on 21 December 2021 and closed on 23 December 2021. The price band of the IPO was fixed at Rs 205-216 per share.
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