Cyient DLM shares tumble over 12% to hit 52-week low as Q3 profit decline; check details

The Cyient DLM stock dived as much as 12.5% on the National stock Exchange of India (NSE) to hit 52-week low of ₹521.50.

On Tuesday, Cyient reported that its revenue grew 38% year-on-year to ₹444 crore in the December quarter. However, profit after tax was down 41.7% YoY to ₹10.8 crore during the quarter due to higher expenses.

The company said employee costs and other expenses were higher in Q3 FY25 due to consolidation with Altek Electronics Inc. – a firm that Cyient DLM acquired in October 2024.

Adjusting for the one-time merger and acquisition (M&A) integration expenses, PAT declined 9.8% year-on-year to ₹16.6 crore in Q3FY25.

The company’s operating profit, or earnings before interest, tax, depreciation and amortisation (EBITDA), also fell 5.3% YoY to ₹27.9 crore in the December quarter. Adjusted EBITDA, however, grew 21.9% to ₹35.9 crore compared with a year ago.

“M&A Integration expenses of ₹8 crore are one-time transaction expenses in Q3. Adjusted EBITDA is exclusive of this one-off item,” the company said in its presentation.

Cyient DLM’s order backlog at the end of December 2024 also declined by ₹152 crore compared with a year ago to almost ₹2,143 crore. “Order backlog reported is inclusive of ₹291.5 crore from acquired entity Altek’s standalone order backlog,” the company mentioned.

For the nine months of the current fiscal year ended December 2024, Cyient DLM said that consolidated revenue growth stood at 31.5% year-on-year to ₹1,091.6 crore. Profit growth during this period was negative, down 4.3% to ₹36.8 crore.

Shares of Cyient DLM were trading 12.47% lower at ₹521.75 apiece on the NSE at 10:02 am.