Income throughout the quarter fell to ₹1,414 crore, registering a fall of three.6 per cent over the income in the identical quarter final 12 months.
Cyent Govt Vice-Chairman and Managing Director Krishna Bodanapu mentioned the Cyient Group witnessed comfortable first-quarter outcomes. The corporate’s EBIT margin stood at 13.5 per cent, down by 260 bps 12 months on 12 months.
“We anticipate DET income development for the monetary 12 months 2024-25 to be flattish YoY in fixed forex phrases as a result of first quarter influence,” he mentioned.
He mentioned the corporate received 5 massive offers in DET with a complete contract potential of $52.4 million on this quarter. “With this, we’re assured that we now have taken steps to align the availability to the demand. We consider this can translate into improved income realisation and drive a pointy restoration of development via the approaching quarters,” he mentioned.
Semiconductor arm
He mentioned the corporate’s foray into the semiconductor house would assist it faucet international alternatives.
Karthikeyan Natarajan, Govt Director and Chief Govt Officer of Cyient, mentioned the corporate confronted a difficult first quarter.
“Nonetheless, we stay assured that with our balanced portfolio and funding in know-how options, we are going to obtain development within the mid-to-long time period to ship worth to stakeholders,” he mentioned,.
“We secured 5 massive offers this quarter throughout connectivity, aerospace, and sustainability. Our pipeline for the 12 months stays robust, and we’re dedicated to delivering clever engineering options for our clients,” he mentioned in an announcement on Friday.
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