Cyient jumped 6.15% to Rs 1,104 after the firm announced the details for its global AS9145 supplier Production Part Approval Process (PPAP) platform offering for aerospace use.
AS9145 establishes the requirements for performing and documenting the Production Part Approval Process (PPAP) and solves a business problem caused by using spreadsheets to manage this critical part risk reduction process. PPAP4Aero is a global AS9145 Supplier PPAP Compliance software and services framework for enabling intelligent supply chain.
PPAP is a risk classification, and qualification process used to determine whether a production run will produce parts with consistency and repeatability, both internally and with suppliers.
Cyient will provide the infrastructure to connect over 25,000 suppliers in over 50 countries, with a multilingual application integrated with OEMs and prime aerospace companies. The platform will meet or exceed the highest security standards of international regulations and the protection of data.
The IT firm reported a 11.54% rise in consolidated net profit to Rs 115 crore in Q1 June 2021 (Q1 FY22) as against Rs 103.10 crore in Q4 March 2021 (Q4 FY21). Revenues slipped 3.19% to Rs 1,058.20 crore in Q1 June 2021 compared with Rs 1,093.10 crore in Q4 March 2021.
Cyient is a global engineering and technology solutions company.
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