For Business PagesCyient Q1 net drops 10%

HYDERABAD, ANDHRA PRADESH, 07/05/2014: Executive Chairman and Founder BVR Mohan Reddy and his son Chief Executive Officer and Managing Director Krishna Bodanapu during announcment of the new name -CYIENT- limited formerly known as Infotech Enterprises limited during news conference held in Hyderabad on May 07, 2014. Hyderabad based Cyient Limited, engineering, network and operations Solutions Company, according to Mr. Reddy, new brand identity is an important step in positioning the company as a distinctively unique global company that represents its vision and forward-looking initiatives. Photo: Mohammed Yousuf

Cyient Q1 net dips 10%, revenue drops 8.9%

Global engineering and technology solutions firm Cyient has posted a consolidated net profit of ₹81.4 crore for the quarter ended June 30, a 10.4% drop from the ₹89.9 crore a year earlier. Consolidated revenue from operations at ₹991.7 crore (₹1,089 crore) was lower by 8.93%. MD and CEO Krishna Bodanapu said the results for the quarter were better than expectations.