Cyient Ltd Q2FY23 PAT down -34.79% at Rs79.10cr on margin pressures

13 Oct 2022 , 07:27 PM

Cyient Ltd reported 25.6% growth in total sales revenues for the September 2022 quarter on consolidated basis at Rs1,396.20r. Sequential revenues were up 11.69% for the quarter.

In terms of segment revenues, the revenues from services for the quarter were up 30.7% at Rs1,206.80 crore. The design led manufacturing segment saw flat revenues at Rs189 crore for the quarter.

There was also an exceptional loss in the quarter of Rs21 crore on account of legal suits pending in the United States.

Consolidated Profit after tax (PAT) for September 2022 quarter was down -34.79% at Rs79.10cr as operating costs piled up.

Manpower costs and other costs pertaining to global operations also piled up during the quarter.

Net margins for the quarter were 5.67% compared to 10.91% in the year ago quarter and 9.29% in the sequential quarter.

Financial highlights for Sep-22 compared yoy and sequentially

	Cyient Ltd
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 1,396.20	₹ 1,111.60	25.60%	₹ 1,250.10	11.69%
Net Profit (Rs cr)	₹ 79.10	₹ 121.30	-34.79%	₹ 116.10	-31.87%
Diluted EPS (Rs)	₹ 7.20	₹ 11.05		₹ 10.57
Net Margins	5.67%	10.91%		9.29%