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BusinessCyient Q2 net profit up 44.7% at Rs 121.3 crore

Cyient Q2 net profit up 44.7% at Rs 121.3 crore

Published: 14th Oct 2021 6:05 pm

Hyderabad: Hyderabad-based Cyient reported a 44.7 per cent jump in net profit at Rs 121.3 crore for the second quarter ended September 30, 2021. The company’s revenue stood at Rs 1,111.6 crore with year-on-year growth of 10.8 per cent.

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The company’s order intake grew 23 per cent year-on-year while offshoring was at around 50 per cent, highest in the last ten quarters.

Krishna Bodanapu, MD & CEO, Cyient, said, “Our performance this quarter has been very encouraging. Our strategic wins and recognition by analysts and customers across industries and technologies reaffirm that Cyient continues to be a trusted and innovative partner of choice.”

Cyient enhanced its additive manufacturing capabilities with its first metal additive manufacturing facility in Jupiter, Florida, following international support from SLM Solutions. The company also strengthened its IntelliCyient Suite of Digital solutions with the acquisition of WorkForce Delta to further its offerings in field services transformation.

The company has also expanded its digital solution portfolio for the aerospace industry with global AS9145 Supplier PPAP Aero platform offerings. Cyient has also joined forces with industry forums such as TM Forum to accelerate the technology-led transformation of networks.

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