Cyient logs group revenue of Rs1,396.20 crore in Q2FY23

14 Oct 2022 , 01:43 PM

Cyient Limited, a leading consulting-led, industry-centric Technology Solutions firm, has released its financial results for the second quarter of FY23. Cyient’s second-quarter growth was largely driven by strong momentum in services and higher margins across the board.

The company reported group revenue of Rs1,396.20 crore in Q2FY23, up by 11.70% sequentially, and 25.60% on a y-o-y basis.

The group CC revenue growth was 10% on QoQ and 20.40% on a yoy basis. Its normalised Group EBIT stood at Rs166.1 crore with a margin of 11.9%.

Further, PAT for Q2FY23 was reported at Rs110.30 crore, down by 5% on a QoQ basis.

Cyient completed the acquisitions announced at the beginning of the year throughout the quarter, enhancing its sustainable engineering capabilities. These purchases are likely to have a greater impact in the second half of the year, commented Krishna Bodanapu, Managing Director and CEO, of Cyient.

At around 1.47 PM, Cyient was trading 0.85% lower at Rs766.05, against previous close of Rs772.65 on NSE. The counter hit intraday high and low of Rs775 and Rs749 respectively.

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