Cyient Q2 profit up 14% at Rs 109 crore

The company's total income grew 7.84% to Rs 1,006.6 crore in the quarter under review

Hyderabad-based IT and engineering services company Cyient Limited has reported a 14 per cent increase in consolidated net profit at Rs 109.7 crore for the quarter ended September, 2017 as compared with Rs 96.2 crore in the corresponding quarter previous year.

The company's total income grew 7.84 per cent to Rs 1,006.6 crore in the quarter under review from Rs 933.4 crore in the year ago period.

The board of directors of Cyient declared an interim dividend of Rs 5 per share on face value of Rs 5 each, aggregating to Rs 67.7 crore.

Commenting on the results, Cyient managing director and CEO Krishna Bodanapu said,"The second quarter (Q2 FY 18) was in line with our expectations both on revenue and margin. We recorded the highest ever revenue of $ 150.1 million in the quarter, an increase of 10 per cent year-on-year and 6.7 per cent quarter-on-quarter... Our outlook for FY18 is strong, backed by a strong pipeline and order backlog. We expect to deliver a double-digit earnings growth in the year."