Cyient Q3 profit at Rs 86.84 crore

IT firm Cyient, formerly known as Infotech Enterprises, today posted a net profit of Rs 86.84 crore for the quarter ended December 31, 2015.
The Hyderabad-based company had posted a net profit of Rs 100.82 crore in the corresponding quarter a year ago.
Cyient's revenue stood at Rs 781.78 crore in the said quarter against Rs 711.81 crore in the year-ago period.
The company had acquired 74 per cent stake in Rangsons Electronics (and its wholly-owned subsidiary Techno Tools Precision Engineering) on February 4, 2015.
"Hence, the results for the quarter and nine months ended December 31, 2015 and December 31, 2014 are not strictly comparable," Cyient said in a filing to the BSE.

In the July-September 2015 quarter, the company had posted a net profit of Rs 98.52 crore, while its revenues stood at Rs 771.64 crore.
Cyient's shares were trading 3.99 per cent lower at Rs 468.20 apiece on the BSE in late afternoon trade.