Global technology solutions company Cyient Ltd. today announced its July-September quarter results for the financial year 2021-22, reporting a net profit of Rs 121.3 crore on a consolidated basis as compared to Rs 83.9 crore in the corresponding period of last year. which marked an increase. 44 percent year-on-year.
The IT company’s revenue from operations stood at Rs 1,111.6 crore in the second quarter of the current fiscal from Rs 1,03.3 crore in the year-ago period, registering a year-on-year growth of 10.79 per cent, according to a regulatory filing. . by the company to the stock exchanges.
“Our strategic victories and recognition by analysts and customers across industries and technologies confirm that Cyient remains a trusted and innovative partner of choice.
The new global logo, contribution from large deals, and strong pipeline indicate that our growth pillars are delivering impact and will help accelerate growth in the coming quarters,” said Krishna Bodanapu, Managing Director and CEO, Cyient.
The Hyderabad-based company reported a group EBIT margin of 14 per cent – its highest ever operating profit. Order taking grew 23 per cent year-on-year in the September quarter and offshoring stood at nearly 50 per cent, the highest in the last 10 quarters.
According to the statement, the company expanded its digital solutions portfolio for the aerospace industry with our global AS9145 supplier’s PPAP4Aero platform offerings. Cyient joined hands with leading industry forums such as the TM Forum to accelerate the technology-driven transformation of the network.
On Thursday, October 14, Cyient Limited shares gained over seven per cent to touch a 52-week high of Rs 1,172.35. During the entire trading session today, Cyient opened at Rs 1,104.40 on BSE, with an intraday high of Rs 1,172.35 and an intraday low of Rs 1,103.30. Shares of Cyient Ltd closed 7.27 per cent higher at Rs 1,158 on the BSE.