 "Cyient hits record high post Q2 results")
Cyient (formerly Infotech Enterprises) has rallied 9% to Rs 487 after reporting a strong 31.6% sequential growth in consolidated net profit at Rs 90.18 crore for the second quarter ended September 2014 (Q2) due to higher other income. The IT consulting and software services firm had profit of Rs 68.51 crore in June quarter.
Consolidated operational revenues grew by 8% at Rs 672 crore in September quarter against Rs 622 crore in previous quarter.
The company’s income from other sources jumped almost three-fold to Rs 34 crore on account of Rs 19.90 crore foreign exchange gain during the recently concluded quarter. The company had other income of Rs 19 crore in June quarter.
The stock opened at Rs 481 and touched a record high of Rs 512 on NSE. A combined 184,000 shares changed hands on the counter in early morning deals on NSE and BSE.
Consolidated operational revenues grew by 8% at Rs 672 crore in September quarter against Rs 622 crore in previous quarter.
The company’s income from other sources jumped almost three-fold to Rs 34 crore on account of Rs 19.90 crore foreign exchange gain during the recently concluded quarter. The company had other income of Rs 19 crore in June quarter.
The stock opened at Rs 481 and touched a record high of Rs 512 on NSE. A combined 184,000 shares changed hands on the counter in early morning deals on NSE and BSE.