Cyient scrip advances over 12 pc after Q3 results

Shares of IT firm Cyient today rose sharply by over 12 per cent after the company posted 15.5 per cent rise in net profit for the quarter ended December 2017.
The scrip zoomed 12.42 per cent to close at Rs 653.10 on BSE. Intra-day, it soared 16.18 per cent to touch its one-year high of Rs 675.
On NSE, shares of the company surged 12.38 per cent to end at Rs 653.55.
IT firm Cyient yesterday posted a 15.5 per cent rise in net profit to Rs 108.8 crore for the quarter ended December 2017.
The Hyderabad-based company had posted a net profit of Rs 94.2 crore in the corresponding quarter a year ago.

During December 2017 quarter, the company recognised an exceptional operating loss of Rs 20.4 crore due to hurricanes in Puerto Rico and loss of Rs 5 crore on divestment of an associate company.
Cyient's revenue grew 7.2 per cent to Rs 983.4 crore in the said quarter against Rs 917.1 crore in the year-ago period.