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Cyient, formerly Infotech Enterprises, has registered a revenue of ₹983.40 crore in the third quarter ended December 31, 2017, as against ₹965.40 crore in the previous quarter, showing a growth of 1.9 per cent.
It reported a net profit of ₹87.8 crore in the quarter as against ₹111.40 crore in the previous quarter, showing a decline of 21.3 per cent. It declared a dividend of ₹4 a share.
“Results were in line with our expectations both in revenue and margins. We are coming off a strong second quarter and the third quarter is a seasonally weak quarter due to lower working days. Despite this, we recorded the highest ever revenue of ₹983.40 crore,” Krishna Bodanapu, Managing Director and Chief Executive Officer of Cyient, said.
“Our outlook for the full financial year is strong, backed by a strong pipeline and order backlog. We expect to deliver double digit earnings growth in the year,” he said.
The Americas contributed 55.1 per cent to the revenues, followed by EMEA (Europe, Middle-East and Asia) with 27.7 per cent. and Asia Pacific with 17.2 per cent.
The firm, which as 13,829 employees at the end of the quarter, registered an attrition rate of 16.8 per cent, up from 14.2 per cent in the previous quarter.
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