 "Cyient surges on better than expected Q3 results")
Cyient has moved higher by 7% to Rs 578 on BSE after reporting a better-than-expected 12% quarter-on-quarter (qoq) growth in consolidated net profit at Rs 101 crore for the third quarter ended December 31, 2014 (Q3FY15). The information technology company had profit of Rs 90 crore in September quarter.
Operational income of the company grew 6% at Rs 712 crore in December quarter against Rs 578 crore in the previous quarter, Cyient said in a statement.
Operating margin improved marginally to 16.3% from 16.1%, it added.
Analyst on an average had expected profit of Rs 85 crore on revenues of Rs 690 crore for the quarter.
“Our free cash flow generation continues to be robust and we generated 38% more free cash flow (FCF) in first 9 months of FY15, as compared to first 9 months of last year. FCF stands at 52% as a percentage of operating profit on year-to-date FY15 basis,” said Ajay Aggarwal, Chief Financial Officer, Cyient.
The stock opened at Rs 545 and touched a record high of Rs 593 on BSE. The counter has seen huge trading volumes with a combined 656,153 shares changed hands till noon deals against an average sub 100,000 shares that were traded daily in past two weeks on BSE and NSE.
Operational income of the company grew 6% at Rs 712 crore in December quarter against Rs 578 crore in the previous quarter, Cyient said in a statement.
Operating margin improved marginally to 16.3% from 16.1%, it added.
Analyst on an average had expected profit of Rs 85 crore on revenues of Rs 690 crore for the quarter.
“Our free cash flow generation continues to be robust and we generated 38% more free cash flow (FCF) in first 9 months of FY15, as compared to first 9 months of last year. FCF stands at 52% as a percentage of operating profit on year-to-date FY15 basis,” said Ajay Aggarwal, Chief Financial Officer, Cyient.
The stock opened at Rs 545 and touched a record high of Rs 593 on BSE. The counter has seen huge trading volumes with a combined 656,153 shares changed hands till noon deals against an average sub 100,000 shares that were traded daily in past two weeks on BSE and NSE.
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