Cyient Rallied 306% In 5 Years
Cyient is a Hyderabad-based IT company. It surged to a life high of Rs 709.60, driven by robust March quarter results on friday.
On Thursday, Cyient posted a 16.2 per cent rise in net profit at Rs 121.5 crore for the March quarter as against the year-ago period. The company had registered a net profit of Rs 104.6 crore last year.
The revenue of the company grew 12.8 per cent to Rs 1,061.8 crore in the said quarter compared with Rs 941 crore a year earlier.
The management remains optimistic about Cyient’s growth prospects and has guided for double-digit growth in core IT services and nearly 35 per cent yoy growth in DLM (Design Led Manufacturing). DLM is designing for smarter manufacturing.
On the other hand, according to the HDFC Securities, flat margin guidance for FY19E came in as disappointment. The company will make investments in platforms, ML led data extraction tools which will fuel growth, but will impact margins.
At 11:04 am, the scrip was trading 5.62 per cent higher at Rs 684 on the BSE.