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Shares of IT firm Cyient Limited surged 9.27 per cent to Rs 310.50 on the BSE on Friday after the company's net profit grew 76.2 per cent on a quarter-on-quarter (QoQ) basis to Rs 81.4 crore. Besides, the management's positive outlook regarding the company's growth also lifted investor sentiment.
On a year-on-year (YoY) basis though, the Hyderabad-based company's net profit declined 10 per cent from Rs 90.5 crore reported in the year-ago period while revenue decreased 8.9 per cent from Rs 1,089 crore in Q1FY20. Sequentially, revenues slipped 7.6 per cent to Rs 991.7 crore.
On a year-on-year (YoY) basis though, the Hyderabad-based company's net profit declined 10 per cent from Rs 90.5 crore reported in the year-ago period while revenue decreased 8.9 per cent from Rs 1,089 crore in Q1FY20. Sequentially, revenues slipped 7.6 per cent to Rs 991.7 crore.
"Q1 FY21 results were better
