Engineering and technology solutions company, Cyient has posted a net profit of ₹173 crore, showing a growth of 9.1 per cent year-on-year. It registered a revenue of ₹1,489 crore, reporting a growth of 2.8 per cent y-o-y.
For the financial year 2023-24, the company posted a net profit of ₹689 crore, showing a y-o-y growth of 31.6 per cent. It registered a revenue of ₹5,911 crores, an increase of 16 per cent.
The total dividend for the financial year is put at ₹30 per share.
“The company delivered a balanced performance around growth and profitability,” Krishna Bodanapu, Executive Vice-Chairman and Managing Director, Cyient, said.
Strategic collaborations
“Aerospace, sustainability and automotive sectors led the growth in the quarter. We see communications and semiconductor business bouncing back to growth in the financial year 2024-25. Our pipeline for the year appears strong,” Karthikeyan Natarajan, Executive Director and CEO of Cyient, said.
“This quarter has seen a deepened engagement in our collaborations with Airbus and Deutsche Aircraft. We will be working on the development of Airbus’ cabin ‘Intelligent Core Management Platform’ and on the detailed design for manufacturing of the rear fuselage section for the 40-seater D328eco regional turboprop aircraft for Deutsche Aircraft,” he said.