Cyient posts Net profit of Rs 94 crore in Q4

Engineering services firm Cyient (formerly Infotech enterprises) today posted a net profit of Rs 94 crore in the fourth quarter ended March 31, showing a growth of 34 per cent as compared to the same quarter last year.
The PAT for the fourth quarter in FY 14 stood at Rs 70 crore.
Revenue for the quarter was put at Rs 730 crore, a growth of 23 per cent when compared to the same quarter last fiscal, company's Managing Director and Chief Executive Officer Krishna Bodanapu told mediapersons here.
"Financial performance in Q4 was in line with what was expected at the beginning of the quarter. Currency fluctuation created a significant headwind along with the reallocation of revenue in a key client from Q4 to Q3. Due to these reasons, financial performance was muted," he said attributing reason for the muted growth during the quarter over previous quarter.

Cyient Executive Chairman B V R Mohan Reddy announced a dividend of 160 per cent, including the interim dividend it announced earlier. For every share with a face value of Rs 5, investors will get Rs 8.
Replying to query, Reddy, without giving details, said the company is looking for acquisitions in aerospace sector and other niche areas in Europe preferably.
Revenues for the full year 2014-15 stood at Rs 2,736 crore, up 24 per cent over previous year. The PAT for the year under discussion grew at 33 per cent to Rs 353 crore, Bodanapu said.