Cyient’s profit grew 22% to Rs 196 crore in Q4
Engineering service provider, Cyient’s net profit grew to Rs 196 crore in the final quarter of FY24, up by 22% sequentially. On a year-on-year basis, the profit for the Hyderabad-based firm grew by 20%.
Riding on deal wins in the fourth quarter from Airbus and Deutsche Aircraft, the ER&D (engineering and research and development) firm saw its Q4 revenue growing by 2.1% to Rs 1,860 crore. On a YoY basis, the Q4 revenue grew by 6.2%.
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Offering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitThe DET (Digital, Engineering and Technology) segment of the company degrew by 0.1% sequentially to Rs 1,489 crores. The company's digital, engineering and technology segment accounted for 80% of its overall revenue. It maintained its operating margin similar to what was in Q3 at 16%.
DET segment saw its attrition declining to 17.1% in Q4 from 18.4% in Q3. The segment’s headcount saw a slight dip by 217 to end at 15,461 at the end of the fiscal 24.
Krishna Bodanapu, executive vice chairman and MD, Cyient, said, “This year has been a very exciting and a momentous one for the Cyient Group in terms of delivering a balanced performance around growth and profitability, executing key initiatives such as DLM divestiture and margin expansion, and building a balanced
