Cyient reports worst quarter nos in decade; stock dips 11% to hit 52-wk low

Cyient's Q1FY20 revenue of USD 157 million de-grew by 5.2% QoQ, was worst sequential performance in the past 10 years.

Shares of Cyient tanked 11 per cent intra-day to hit its 52-week low of Rs 482 per share on the BSE on Friday after the company reported disappointing set of numbers for the quarter ended June 2019 (Q1FY20).

Cyient's Q1FY20 revenue of USD 157 million de-grew by 5.2 per cent quarter on quarter (QoQ) and 3 per cent year on year (YoY) and was around 5 per cent below against analyst estimates. This is Cyient’s worst QoQ performance in the past 10 years.

In rupee terms, the information technology firm’s revenue stood at Rs 1,089 crore, a decline