Cyient: Cyient’s profit grew 22% to Rs 196 crore in Q4

Engineering service provider, Cyient’s net profit grew to Rs 196 crore in the final quarter of FY24, up by 22% sequentially. On a year-on-year basis, the profit for the Hyderabad-based firm grew by 20%.
Riding on deal wins in the fourth quarter from Airbus and Deutsche Aircraft, the ER&D (engineering and research and development) firm saw its Q4 revenue growing by 2.1% to Rs 1,860 crore. On a YoY basis, the Q4 revenue grew by 6.2%.

The DET (Digital, Engineering and Technology) segment of the company degrew by 0.1% sequentially to Rs 1,489 crores. The company’s digital, engineering and technology segment accounted for 80% of its overall revenue. It maintained its operating margin similar to what was in Q3 at 16%.

DET segment saw its attrition declining to 17.1% in Q4 from 18.4% in Q3. The segment’s headcount saw a slight dip by 217 to end at 15,461 at the end of the fiscal 24.

Krishna Bodanapu, executive vice chairman and MD, Cyient, said, “This year has been a very exciting and a momentous one for the Cyient Group in terms of delivering a balanced performance around growth and profitability, executing key initiatives such as DLM divestiture and margin expansion, and building a balanced portfolio of offerings to drive sustainable future growth.”

Karthikeyan Natarajan, executive director and CEO of Cyient, said, “The growth was led by aerospace, sustainability and automotive sectors and we see communications and semiconductor business bouncing back to growth in FY 25. This quarter has seen a deepened engagement in our collaborations with Airbus and Deutsche Aircraft, where we will be working on the development of Airbus’ cabin ‘Intelligent Core Management Platform’ and on the detailed design for manufacturing of the rear fuselage section for the 40-seater D328eco regional turboprop aircraft for Deutsche Aircraft.”