Cyient's Q1 profit rises 7% YoY, but dips sequentially
Cyient just posted a ₹153.8 crore profit for April-June 2024—a 6.9% boost over last year.
But compared to the previous quarter, both profit and revenue dropped (down nearly 10%).
Revenue landed at ₹1,781.5 crore, showing modest year-on-year growth but a noticeable dip from Q4.
Digital engineering and technology segment leads the way
The company's Digital Engineering and Technology segment stood out with a 30% jump in profits and steady revenue.
Cyient also brought in 14 new clients and scored a deal worth over $20 million this quarter—clear signs they're still landing big opportunities even as overall numbers waver.
Cash pile grows; semiconductor division spun off
Cyient's cash pile grew by ₹262 crore to hit ₹1,894 crore. They've spun off their semiconductor division to focus on advanced chip tech—think analog and mixed-signal ASICs.
Still, despite these moves, Cyient's stock closed down nearly 3% today at ₹1,242.85.
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