Cyient Q1 profit down 6% at Rs 82 crore

image

Cyient today said its profit after tax for the quarter ended June 30 was down by six per cent to Rs 82.5 crore against Rs 87.8 crore during the same quarter in FY 18.

According to a press release and an investor presentation by the company, revenues from operations was up by 19 per cent to Rs 1080 crore during the quarter under discussion.

It was Rs 907 crore in the first quarter of FY 18.

Managing Director and Chief Executive Officer, Cyient, Krishna Bodanapu said, the results were in line with their expectation.

“We witnessed a YoY growth of 14.3 per cent (in USD terms) driven by strong growth in Aerospace and Defense, Transportation and Semiconductor, IOT and Analytics business units,” he said.

He hoped that the outlook for FY 19 would continue to remain strong and expected a double digit growth in operating profit through the year.

“Our operating margin is expected to remain flat YoY as operational improvements and upsides from exchange rates are offset by investments we make through the year,” he added.

Cyient shares closed at Rs 742 apiece up 0.82 per cent over previous close on BSE.

Source: Economic Times