Business Standard

Cyient zooms 9% on better-than-expected Q1 performance, positive outlook

The company's Ebit came in at Rs 50.2 crore, up 10.6 per cent than Rs 45.4 crore reported in Q4FY20

stocks, stock market, m arket, sensex, growth, revenue, earnings, results, Q2,Q1, Q3, Q4, COMPANY, nse, bse,
Premium

Axis Capital has upgraded the stock from 'ADD' to 'BUY' while also raising the target price from Rs 230 to Rs 390

SI Reporter New Delhi
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.

"Q1 FY21 results were better

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in