Global technology solutions company Cyient Limited announced its July-September quarter results for the financial year 2021-22 today, reporting a net profit of Rs 121.3 crore on a consolidated basis, compared to Rs 83.9 crore in the corresponding period last year, marking a growth of 44 per cent year-on-year.
The IT company’s revenue from operations in the second quarter of the current fiscal stood at Rs 1,111.6 crore, compared to Rs 1,003.3 crore in the year-ago period, registering a growth of 10.79 per cent year-on-year, according to a regulatory filing by the company to the stock exchanges.
”Our strategic wins and recognitions by analysts and customers across industries and technologies reaffirm that Cyient continues to be a trusted and innovative partner of choice.
The new global logos, the contribution of large deals, and the strong pipeline in place indicate that our growth pillars are delivering impact and will help accelerated growth in coming quarters,” said Krishna Bodanapu, Managing Director and CEO, Cyient.
The Hyderabad-based company reported a group EBIT margin of 14 per cent – leading the highest ever operating profit. The order intake grew 23 per cent year-on-year in the September quarter and offshoring was at around 50 per cent – the highest in the last 10 quarters.
The company expanded its digital solution portfolio for the aerospace industry with our global AS9145 Supplier PPAP4Aero platform offerings, according to the statement. Cyient joined forces with leading industry forums such as TM Forum to accelerate the technology-led transformation of networks.
On Thursday, October 14, shares of Cyient Limited rallied more than seven per cent to touch a 52-week high of Rs 1,172.35. Cyient opened on the BSE at Rs 1,104.40, swinging to an intra day high of Rs 1,172.35 and an intra day low of Rs 1,103.30, throughout the trading session today. Shares of Cyient Limited settled 7.27 per cent higher at Rs 1,158 apiece on the BSE.