Cyient DLM shares slip 4% on profit booking after strong Q1FY25 numbers

Cyient DLM shares closed at ₹752.2 on the NSE, down ₹13.60 or 1.78%. The stock opened at ₹765.60, which was also its previous close, and briefly moved up to ₹768.95 before retreating to a low of ₹726.

Cyient DLM reported its earnings for the April-June 2024 quarter on July 22. The company said it had made a substantial growth in its consolidated profit after tax (PAT), which swelled by 98.5% to ₹10.59 crore in Q1 of FY25, compared to ₹5.35 crore in the same quarter of the previous fiscal year. Its revenue from operations increased by 18.3%, reaching ₹257.88 crore in the first quarter of FY25, up from ₹218.06 crore in the year-ago period.

Cyient DLM said the company’s profit after tax growth was positively driven by revenue growth and other income. The company added that its revenue from the defence segment experienced a significant YoY growth of 79.6%, while the aerospace segment saw an increase of 78.1%. Similarly, the MedTech sector posted revenue growth of 16.1% YoY. However, the industrial sector saw a decline of 81.6% due to lower demand.

Cyient DLM said it has expanded its portfolio by adding four new global clients. The new additions include a global semiconductor company specialising in electronic manufacturing, a transfer project with a global defence OEM, a med-tech company focused on developing diagnostic equipment for the international market and a major player in the defence and aerospace sector.

The digital engineering and technology company added that it also has a strong pipeline with several large deals currently in the advanced stages.