Cyient DLM's March quarter profit up y-o-y by 80.7%

24 Apr 2024 , 12:04 PM

On Tuesday, Cyient DLM announced that its net consolidated profit for the fourth quarter of the fiscal year 2023–24 increased by 23.3% on a Q-o-Q basis to ₹22.7 Crore. The company posted Rs 18.4 crore net profit for the December quarter of FY24.

The company’s net profit increased by 80.7% YoY from ₹12.6 Crore in the same period last year. On the BSE on Tuesday, Cyient DLM’s share price ended the day 2.79% higher at ₹687.35 a share.

From ₹321 Crore in the prior quarter to ₹362 Crore this quarter, Cyient DLM’s revenue grew 12.7% sequentially. The overall aggregate revenue increased from ₹277.4 Crore to ₹30.5 Crore on a yearly basis.

The business goals of Cyient DLM are still to grow our clientele and enhance our competencies. This year’s strong growth was driven by the aerospace and defence (A&D) sectors. According to Anthony Montalbano, CEO of Cyient DLM, “large deals in A&D comprise a major portion of Order Book and pipeline and are expected to contribute towards FY25 & FY26 growth.”

The profit after tax (PAT) for Cyient DLM in FY24 jumped by 92.9% to ₹61.2 Crore from ₹31.7 Crore in the prior fiscal year. Cyient DLM’s FY24 revenue increased by 43.2% YoY to ₹1,192 Crores.

In contrast, it reported ₹111 Crores in EBITDA for FY24, with a 9.3% margin and a 26.5% YoY growth.

Mysuru and Bengaluru saw the opening of new Cyient DLM facilities during the preceding fiscal year 2023–2024.

Built on a 36,000-square-foot manufacturing area, Cyient DLM’s Bengaluru facility prioritizes meeting incremental demand from current clients while also facilitating new business ventures and alliances.

The Mysuru manufacturing plant will concentrate on expanding into important markets like the industrial and medical industries.

We continue to have high expectations for FY 25, with robust growth supported by an order book and solid customer relationships. Our priority will be using inorganic growth to broaden our geographic reach internationally,” the electronic manufacturing services company stated in a news release on Tuesday.

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