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
Conference Call with Cyient Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software firm Cyient Announced Q1FY23 Result : Cyient declares positive Q1 FY23 results fueled by large deals in Emerging and Innovative technology solutions Group revenue at INR 1250.1 crores with QoQ growth of 5.8% and YoY growth of 18.1% Group EBIT at INR 143.5 crores with a margin of 11.5% PAT at INR 116.1 crores, YoY growth of 0.9% Group and Services Order Intake grew by 18 % YoY Largest ever TCP win achieved in Q1 with a total of 6 Large deals amounting to US$ 424.3 million Constant Currency Revenue Growth at 4.4% QoQ and 15.8% YoY Commenting on the Q1 results, Krishna Bodanapu, Managing Director and CEO, Cyient, said, "Our performance this quarter has been strong with our revenue growing at over 18% YoY. Six large deals with a TCP of over US$ 424 million are a key indicator of our customers' trust in our digital and innovation capabilities. Our robust pipeline from high performing sectors like Communications, Mining, Healthcare Technology, and Automotive, strategic investments, and acquisitions show that our growth pillars continue to reap benefits for the business." Result PDF