Cyient Ltd Q2 PAT up 44.6% yoy at Rs121.30cr on inventory tweaks and stable cost structure

Cyient Ltd reported 10.79% growth in total revenues for the Sep-21 quarter on consolidated basis at Rs1,111.60cr

Oct 14, 2021 08:10 IST India Infoline News Service

Cyient
Cyient Ltd reported 10.79% growth in total revenues for the Sep-21 quarter on consolidated basis at Rs1,111.60cr. The revenues were higher by 5.05% on a sequential basis compared to Rs1,058.20cr revenues in the Jun-21 quarter.

The company saw stable growth in its two principal verticals of IT services and design-led manufacturing. The IT services business grew 8.7% at Rs923cr while the design-led manufacturing business grew revenues by 23.4% at Rs190cr. The company has declared interim dividend of 200% or Rs.10 per share.

The consolidated Profit after tax (PAT) for the Sep-21 quarter was up 44.58% at Rs121.30cr. The spike in profits was largely led by inventory efficiency gains as well as a stable cost structure due to better absorption of fixed costs.

The company largely operates in the geographical information services and positioning services and the revenue flows on this business are generally not vulnerable to cycles. Net margins at 10.91% were at par with the NPM of 10.87% margins on a yoy basis and better than 8.36% reported on sequential basis.


Financial highlights for Sep-21 compared yoy and sequentially


Cyient Ltd
Rs in Crore Sep-21 Sep-20 YOY Jun-21 QOQ
Total Income (Rs cr) ₹ 1,111.60 ₹ 1,003.30 10.79% ₹ 1,058.20 5.05%
Net Profit (Rs cr) ₹ 121.30 ₹ 83.90 44.58% ₹ 115.00 5.48%
Diluted EPS (Rs) ₹ 11.05 ₹ 7.63 ₹ 10.44
Net Margins 10.91% 8.36% 10.87%

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