HYDERABAD: Hyderabad-based IT firm, Cyient has posted a 13.8 per cent rise in net profit during the quarter ended December 31.
The company’s net profit at the end of the quarter was ₹94.17 crore as against ₹82.74 crore during the corresponding period of the previous fiscal. The revenue registered a 17.1 per cent increase to ₹ 917.06 crore against ₹ 783.07 crore of the year ago period. On a sequential basis, the net profit was lower by 3.2 per cent while the revenue grew marginally.
Cyient managing director and CEO Krishna Bodanapu said the third quarter result was in line with the expectations both in revenue and margin. “We are coming off a very strong quarter in Q2 and Q3 is a seasonally weak quarter due to lower working days,” he said.
Chief Financial Officer Ajay Aggarwal said the company saw traction in all the key industries and Cyient would continue to focus on growth in revenue and operating profit, cash generation and thus maximising the value for shareholders.
