Cyient Shares surge 6% following impressive Q4 earnings report

Nippon India Mutual Fund Purchases 0.63% of Cyient DLM

Cyient Shares Surge 6% on Impressive Q4 Results

Cyient Limited’s net profit for Q4FY23 increased by 14% YoY, leading to a 6.06% surge in the company’s stock to ₹1157.60 during intraday trading on Friday. The company’s shares also hit a 52-week high of ₹1,194.10 per share on BSE.

In terms of financials, the company reported a net profit of ₹176 crore, marking an 8.1% QoQ and 14.1% YoY increase. Its net revenue for the quarter reached ₹1448.9 crores, up 8.2% QoQ and 48.3% YoY. Furthermore, the firm’s normalised Group EBIT stood at ₹249.4 crores, with a margin of 14.2%. The company also recorded a group CC revenue growth of 6.6% QoQ and 39.1% YoY.

Cyient Ltd, a mid-cap IT firm with a market cap of ₹12,067 Cr, serves over 300 customers from diverse industries, including 29 Fortune 500 companies, through its technology solutions and industry consulting services. The company also announced a final dividend of ₹15 per equity share for FY23.

About Cyient:

Established in Hyderabad in 1991, Cyient is a multinational technology company that specializes in engineering, manufacturing, data analytics, and networks and operations.

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