Cyient’s third quarternet profit falls 14 %

Cyient Ltd. has posted a net profit of Rs. 86.84 crore for the quarter ended December against Rs.100.82 crore in the corresponding period of previous fiscal, a drop of 13.9 per cent.

Total income went up by 9.8 per cent to Rs.781.78 crore from Rs.711.81 crore.

Managing Director and CEO Krishna Bodanapu said it was a mixed quarter for the company. “Due to reduction in working days across geographies, capacity for the quarter was lower than previous quarters which put significant pressure on revenue. We were able to make up most of this through growth in the business.” Given the backlog and pipeline, he expressed confidence that the current quarter “will see a material acceleration in growth in the engineering and DNO (data transformation, network and operations) businesses. Margins will also improve since we will have better utilisation of capacity in Q4.”