Cyient rose 1.76% to Rs 1,178.40 after the company's consolidated net profit added 5.47% to Rs 121.30 crore on a 5.04% increase in revenue from operations to Rs 1,111.60 crore in Q2 September 2021 (Q2 FY22) over Q2 June 2021 (Q2 FY22).
On a year-on-year (Y-o-Y) basis, the company's consolidated net profit jumped 44.57% while revenue from operations surged 10.79% in Q2 September 2021 (Q2 FY22) over Q2 September 2020 (Q2 FY21).
During the quarter, the group EBIT margin stood at 14%, leading its highest ever operating profit. The order intake grew by 23% Y-o-Y. The offshoring was at 50%, its highest in the past ten quarters.
Krishna Bodanapu, the managing director (MD) and chief executive officer (CEO) of Cyient, said, "Our performance this quarter has been very encouraging. Our strategic wins and recognitions by analysts and customers across industries and technologies reaffirm that Cyient continues to be a trusted and innovative partner of choice. The new global logos, the contribution of large deals, and the strong pipeline in place indicate that our growth pillars are delivering impact and will help accelerated growth in coming quarters."
The board has declared an interim dividend of Rs 10 per equity share (i.e. 200%) on par value of Rs 5 per share for the FY 2021-2022. The company has also approved the closure of Cyient Israel India, a wholly owned subsidiary of the company in Israel.
Cyient is a global engineering and technology solutions company. The scrip hit an all-time high of Rs 1,214 during intraday trade.
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