 "Cyient Q2 net up 9% to Rs 98.5 crore")
Hyderabad-based engineering and technology services company Cyient Limited has reported a marginal decline in consolidated net profit at Rs 73.97 crore for the quarter ended June, 2016 as compared with Rs 75.64 crore in the corresponding quarter last year, due to fall in other income and rise in expenditure.
Total income from operations grew 14.43 percent to Rs 830.57 crore in the quarter under review from Rs 725.82 crore in the year ago period. Expenditure grew at similar scale at Rs 743.34 crore as compared to Rs 651.21 crore in the corresponding previous quarter. The other income has come down to Rs 10.63 crore in this quarter from 28.90 crore in the same quarter last year.
Commenting on the results, Krishna Badanapu, managing director and chief executive officer of Cyient Limited said: "Financial performance in Q1 FY17 is in line with our expectations both on the top line and the bottom line. The services business grew 5.4 percent in dollar terms driven by growth in Aerospace and Defence, Transportation and Communications business units."
