Cyient has announced its financial results for the quarter ended September 30, 2021.
Financial highlights for the quarter:
Group revenue stood at Rs 11.12 billion with YoY growth at 10.8 per cent
Group EBIT margin of 14 per cent leading to the company’s highest-ever operating profit
Quarter 2 PAT at Rs 1.21 billion, recording YoY growth of 44.7 per cent
Order intake grew by 23 per cent YoY
Offshoring stood at 50 per cent, highest in the last ten quarters
Commenting on the development, Krishna Bodanapu, managing director and chief executive officer, Cyient, said, “Our performance this quarter has been very encouraging. Our strategic wins and recognitions by analysts and customers across industries and technologies reaffirm that Cyient continues to be a trusted and innovative partner of choice. The new global logos, the contribution of large deals, and the strong pipeline in place indicate that our growth pillars are delivering impact and will help accelerated growth in coming quarters.”
Cyient enhanced its additive manufacturing capabilities with its first metal additive manufacturing facility in Jupiter, Florida, following international support from SLM Solutions. Cyient also strengthened its IntelliCyient Suite of digital solutions with the acquisition of workforce delta to further its offerings in field services transformation.
The company has also expanded its digital solution portfolio for the aerospace industry with its global AS9145 Supplier PPAP4Aero platform offerings.
Cyient has also joined forces with leading industry forums like TM Forum to accelerate the technology-led transformation of networks.