Stocks

Cyient shares drop to near two-year low on weak results

Reuters Mumbai | Updated on July 19, 2019 Published on July 19, 2019

Cyient Ltd falls as much as 11.4 per cent to Rs 481.55, the lowest since September 2017.

On Thursday, the engineering design services provider said the net profit for the June-quarter dropped 48.8 per cent to Rs 9,050 lakh quarter-on-quarter (QoQ).

Cyient, however, posted a 9.7 per cent rise in net profit year-on-year (YoY).

The shares saw the worst intra-day percentage fall in over 15 weeks.

About 934,800 shares changed hands.

Up to Thursday's close, stock is down 12.34 per cent so far this year.

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Published on July 19, 2019
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