Info-tech

Cyient Q1 profit falls to ₹82 crore

Our Bureau Hyderabad | Updated on July 12, 2018 Published on July 12, 2018

Engineering services company Cyient has registered a consolidated total income of ₹1,096 crore in the first quarter ended June 30, 2018, as against ₹944 crore in the same quarter previous year.

The net profit for the quarter declined to ₹81.6 crore from ₹85 crore in the comparable quarter last year.

“We have cash or cash equivalent of ₹1,100 crore,” Krishna Bodanapu, Managing Director and CEO of Cyient, has said.

“The first quarter has been in line with our expectations. We witnessed a year-on-year growth of 14.3 per cent, driven by strong growth in aerospace and defence; transportation and semiconductor; and Internet of things and Analytics business units,” he said, commenting on the first quarter results.

“The outlook for the financial year 2019 continues to remain strong. We expect a double-digit growth in operating profit in the year. Our operating margin is expected to remain flat year-on-year as operational improvements and upsides from exchange rate offset investments we make through the year,” he said.

Published on July 12, 2018
This article is closed for comments.
Please Email the Editor