Cyient said that it has signed multi-year services agreement with Airbus for cabin and cargo engineering.
Following this agreement, the company has been selected by Airbus for the development of a part of its cabin Intelligent Core Management Platform (iCMP). These systems focus on enabling faster software updates, easy and rapid customization, and proliferation of digital services in Cabin. It has been working with Airbus, supporting the future-ready Cabins to deliver state-of the-art services requiring new technologies and significant data flow volumes.Karthikeyan Natarajan, executive director and CEO, Cyient, said, We thank Airbus for their confidence in our capabilities and partnering to work on their key future technology development programs. Cyient is committed to growing this partnership with Airbus to greater heights. We look forward to leveraging our technology expertise to support Airbus in their pursuit of transforming in-flight communication and diagnostics systems.
Cyient is a consulting-led, industry-centric, global technology solutions company. It currently operates through eight strategic business units: aerospace & defense; transportation; industrial, energy, and natural resources; semiconductor, internet of things and analytics; medical and healthcare; utilities & geospatial; communications and design-led manufacturing (Cyient DLM).
The IT company's consolidated net profit tumbled 17.44% to Rs 147.2 crore in Q3 FY24 as against Rs 178.3 crore reported in Q2 FY24. Revenue from operations rose 2.41% quarter on quarter (QoQ) to Rs 1,821.4 crore in Q3 FY24.
The scrip declined 3.54% to end at Rs 1,894.50 on Wednesday, 13 March 2024.
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