Security services provider SIS Ltd says orders are back in the April to June quarter, after a lull in the previous three-month period due to the emergence of the Omicron variant of the SARS-Cov-2 virus.
Rituraj Sinha, Group Managing Director, SIS Ltd, said that new orders — including renewals — are normally placed in the January to March period, but there was a slowdown this year due to the rising number of Omicron cases. However, from March the orders resumed, indicating recovery and renewed business confidence.
“There was some impact of Omicron from January to March, which led to a delay in contract renewals and new orders. But towards the end of the quarter, as well as in Q1FY23, numbers began picking up. So, whatever decision-making was delayed is now coming back in,” he told BusinessLine.
The revenue run rate in March 2022 was ₹942.4 crore, compared to ₹719.7 crore in March 2020 (pre-Covid).
SIS Ltd reported a…