Cyient shares tank 19% as net profit declines 31.6% QoQ to ₹127.7 crore, revenue up 0.5%

Year-on-year, the profit after tax declined 16.64%.

Revenue from operations stood at ₹1,909.8 crore, growing 0.5% quarter-on-quarter (QoQ) and 3.78% YoY.

Karthikeyan Natarajan also resigned as executive director and chief executive officer of the company effective immediately to "explore new challenges and opportunities," he said in his resignation letter as per an exchange filing.

The digital, engineering, and technology (DET) segment earnings before interest and taxes (EBIT) was reported at ₹200 crore, with a margin of 13.5%. The segment's order intake grew by 5% year over year.

Cyient share price

At 12:01 pm, the stock was trading at ₹1,417.40 on the NSE, reflecting a 19.25% decline.

On Q3 earnings, Krishna Bodanapu, executive vice chairman and managing director, said, "Cyient Group witnessed positive Q3 FY25 results, with quarterly Group revenue at US$228 Mn and growth of 4.5% YoY in constant currency."

"Our Semiconductor business continues to witness excellent traction. Cyient’s Digital, Engineering and Technology (DET) business delivered revenue at US$ 175.2 Mn, a growth of 2.4% QoQ and degrowth of 1.9% YoY in constant currency," he said.

Bodanapu said that the company's order book witnessed a strong uptick. Order intake for the latest third quarter, at $312.3 million, is the highest ever for Cyient DET.

"We have also won 13 large deals in DET business with a total contract potential of $234.5 Mn in Q3 FY25. Our pipeline for the year has improved, with large deals contributing significantly to a strong pipeline, positioning us for sustainable growth in the medium term," he added.