 "A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (pic: Reuters)")
Cyient has dipped 6.4% to Rs 451, extending its previous day’s 4% decline on the BSE, after the information technology (IT) company reported 24% decline in consolidated net profit at Rs 66 crore for the quarter ended March 2016 (Q4FY16) on a sequential basis.
The company had registered a profit of Rs 86.84 crore in December quarter and Rs 93.69 crore in March 2015 quarter.
Net income from operations grew 4% at Rs 816 crore in March quarter against Rs 782 crore in previous quarter. Operating margin declined by 100 basis points to 13% from 14.1% in previous quarter.
At 02:45 pm, the stock was down nearly 6% at Rs 455 as compared to 0.21% decline in the S&P BSE Sensex. A combined 287,824 shares changed hands on the counter on the BSE and NSE so far.
The company had registered a profit of Rs 86.84 crore in December quarter and Rs 93.69 crore in March 2015 quarter.
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Net income from operations grew 4% at Rs 816 crore in March quarter against Rs 782 crore in previous quarter. Operating margin declined by 100 basis points to 13% from 14.1% in previous quarter.
At 02:45 pm, the stock was down nearly 6% at Rs 455 as compared to 0.21% decline in the S&P BSE Sensex. A combined 287,824 shares changed hands on the counter on the BSE and NSE so far.
