Cyient logs 74% yoy drop in Q4 PAT; stock opens marginally up

In Q4, Cyient's cash flow conversion stood at 74.0% for the group and 56.0% for Services.

May 08, 2020 09:05 IST India Infoline News Service

Cyient
IT-company Cyient recorded a consolidated net profit of Rs45.2cr during March 2020 (Q4FY20) period, which was a huge decline of 74.4% compared to the net profit of Rs176.8cr posted a year ago same period.

Meanwhile, consolidated revenue stood at Rs1,073.6cr in Q4, down by 7.7% from Rs1,162.9cr in Q4FY19.

On the other hand, revenue and net profit tumbled by 9.7% yoy and 76% yoy to $149.2M and $ 6.1M in dollar terms.

In Q4, Cyient's cash flow conversion stood at 74.0% for the group and 56.0% for Services. DLM has generated cash of Rs28.5cr in Q4 FY20.

For FY20, Cyient's revenue stood below 4.1% to Rs4,427.4cr, whereas the PAT plunged by 28.4% to Rs342.5cr.

As for the entire fiscal, the cash flow conversion stood at 56.9% for the Group and 59.0% for services.

In its investor's presentation, Cyient revealed that, due to volatility in major currencies (USD, GBP, EUR, CAD and AUD), the company revised the policy to hedge 80% of net inflows for the rolling 12 months (as against the previous policy of 70%).

So far, the company's cash and cash equivalents stay at a healthy level of Rs951.8cr.

Ahead of the result, Cyient share price ended at Rs219 per piece down by 5.48% on Sensex during Thursday's trading session.

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