Cyient, the engineering services firm formerly known as Infotech Enterprises, has registered revenue of Rs 941 crore in the fourth quarter ended March 31, 2017, as against Rs 917 crore in the previous quarter, showing a growth of 2.6 per cent. The net profit declined by 16.7 per cent in the quarter at Rs 78.4 crore as against Rs 94.2 crore in the third quarter.
The contribution from Americas declined to 57.1 per cent in the quarter as against 58 per cent in the previous quarter, while that EMEA (Europe,the Middle-East and Africa) increased its contribution to 25.1 per cent from 24 per cent in the previous quarter. The utilisation rate of its staff fell to 77.4 per cent from 78.3 per cent in the third quarter.
The total manpower remained unchanged at 13,084 in the quarter. Voluntary attrition rate has come down to 15.6 per cent from 22.6 per cent in the third quarter. However, involuntary attrition doubled to 3.9 per cent from 1.9 per cent. For the full year 2016-17, the voluntary attrition rate is at 20.5 per cent, a notch higher than 19.5 per cent in 2015-16.
“The impact of the initiatives like stringent processes in hiring and training enablement module have helped in bringing down the attrition in the fourth quarter. Efforts are on to to bring back the attrition rate to 17-18 per cent,” Krishna Bodanapu, Managing Director and Chief Executive Officer of Cyient, has said.
“At the end of fourth quarter, the firm showed a cash balance of Rs 970 crore in spite of three acquisitions and increased dividend payout,” he said.