Conference Call with Cyient Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.
IT Software and Services company Cyient announced Q2FY23 results: Group revenue at Rs 1396.2 crore with QoQ growth of 11.7% and YoY growth of 25.6% Group CC Revenue Growth at 10.0% QoQ and 20.4% YoY Normalised Group EBIT at Rs 166.1 crore with a margin of 11.9% Normalised PAT at Rs 110.3 crore, de-growth of 5.0% QoQ Group Order Intake grew by 58.6% YoY Offshoring at 48% Commenting on the Q2 results, Krishna Bodanapu, Managing Director and CEO, Cyient, said, " We continue to witness strong momentum across the business, driven by key wins, robust Order Intake, and pipeline. We are confident about delivering positive results through the year, driven by growth in key accounts and a strong order pipeline. We continue strengthening our technology offerings, focusing on building technology solutions across key megatrends impacting industries like Automotive, Medical, Communications, Semiconductors, etc." Mr. Bodanapu added, "With ER&D; spending estimated to exceed $ 1.7 Trillion by 2025, organizations worldwide are already leveraging their assets to prepare for the future. The research report we released highlights the Megatrends that will see definitive technology disruption by 2030. This is part of Cyient's push to ensure that our customers receive the best in technology innovation to ensure that their businesses are sustainable and futureproof." Result PDF