SIS logs FY2020 net profit of Rs 225.5 crore

New Delhi, April 30 (IANS) Security & Intelligence Services (India) on Thursday reported a profit after tax of Rs 225.5 crore for the financial year 2019-20, 5 per cent higher than Rs 214.7 crore reported in the previous fiscal. Total revenue of the company rose by 19.6 per cent to Rs 8,485.2 crore during FY20, the company said in regulatory filing. Group Managing Director Rituraj Sinha noted that the year has been marked by a steep slowdown in the Indian economy, with steady GDP downgrades through the year and the Covid-19 crisis. “Despite this weak economic backdrop, SIS has continued its strong growth, outpacing industry growth once again, as a market leader. This is a testimony to demand resilience, our unique business model and the execution capabilities of the SIS leadership and management who have demonstrated relentless focus on capability enhancement, solution design and customer experience enhancement,” he said. “COVID crisis and categorisation of our services as ‘essential’ across India and the world re-affirms the criticality of these services in our economy and the relative inelasticity of the demand. Our Q4, particularly March 2020 results are testimony to the same,” he said.