Cyient profit rises 15% to ₹111 crore in Q2

The Hindu Business Line - - IT & TELECOM -

Cyient Ltd, for­merly In­fotech En­ter­prises, has posted rev­enues of ₹965.40 crore in the sec­ond quar­ter ended Septem­ber 30, 2017, as against ₹913.60 crore in the same quar­ter last year, show­ing a growth of 5.7 per cent.

The Hy­der­abad firm, which pro­vides engi­neer­ing ser­vices, reg­is­tered a net profit of ₹111.40 crore as against ₹97.3 crore in the com­pa­ra­ble quar­ter, a growth of 14.60 per cent.

“The per­for­mance was in line with our ex­pec­ta­tions both on the rev­enue and mar­gins. We recorded the high­est ever rev­enues in the quar­ter,” Kr­ishna Bo­danapu, Man­ag­ing Di­rec­tor and Chief Ex­ec­u­tive Of­fi­cer of Cyient, has said.

“The at­tri­tion rate stood at 16.80 per cent, which is the low­est in the last 15 quar­ters. Cash and cash equiv­a­lents were at ₹987 crore at the end of the sec­ond quar­ter,” he said.

The firm has a to­tal man­power of 13,658 as against 13,216. The vol­un­tary at­tri­tion fell to 14.2 per cent from 22.70 per cent in the com­pa­ra­ble Kr­ishna Bo­danapu, MD & CEO

quar­ter last year. The in­vol­un­tary at­tri­tion too came down to 2.6 per cent (4 per cent).

The firm has de­clared an in­terim div­i­dend of ₹5 a share, the high­est ever, he said.

Out­look

“We ex­pect a dou­ble digit growth in our ser­vices busi­ness. Our mar­gins are ex­pected to im­prove by 50 bps driven by im­prove­ments in op­er­a­tional ef­fi­ciency through the year.

“We ex­pect to de­liver a dou­ble digit earn­ings growth in the year,” he said.

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