Cyient Q2FY24 results: Consolidated net profit jumps 132% YoY to Rs 183 cr

The consolidated net profit of Cyient Limited, an IT company based in Hyderabad, for the second quarter of the current financial year (Q2FY24) saw a rise of 132.11 per cent to Rs 183.6 crore, compared to Rs 79.1 crore for the corresponding quarter of the previous year, the company said in a BSE filing. Sequentially, the net profit was up 8.57 per cent. In Q1FY24, the net profit of the company was Rs 169.1 crore.

The revenue from operations for Q2FY24 came in at Rs 1,778.5 crore, compared to Rs 1,396.2 crore year-on-year (y-o-y). This is a rise of 27.38 per cent. On a quarter-on-quarter (q-o-q) basis, the revenue for operations was up 5.45 per cent. It stood at Rs 1,686.5 crore in Q1FY24.

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The company announced an interim dividend of Rs 12 per equity share.

The total income for Q2FY24 came in at Rs 1,792 crore, compared to Rs 1,415.9 crore y-o-y, registering a rise of 26.56 per cent. On a q-o-q basis, the total income was up 5.61 per cent. It was Rs 1,696.7 crore in Q1FY24.

Cyient Limited stock closed at Rs 1,750 on Thursday.