Cyient reports sequential growth in Q4
Cyient also witnessed the highest-ever cash generation at Rs 760.9 crore registered in FY21.
Hyderabad: Hyderabad-based Cyient reported a net profit of Rs 110.7 crore in the fourth quarter ending March 31, 2021, a quarter-on-quarter growth of 16 percent.
The group revenues for Q4 stood at $149.9 million (Rs 1,093.2 crore), with quarter-on-quarter growth of six percent in US dollar terms. Cyient also witnessed the highest-ever cash generation at Rs 760.9 crore registered in FY21.
Krishna Bodanapu, MD and CEO, Cyient said, “Our performance this year was as per our expectations. Despite the headwinds in aerospace, we continued to witness strong momentum in other sectors such as communications, utilities, and mining. The design-led manufacturing business grew considerably this year. Outlook for FY 22 is strong with growth forecasted across sectors. We have and will continue to make significant investments in key growth areas such as digital technologies and embedded software and focus on adding differentiated capabilities to our offerings portfolio.”
Cyient announced the appointment of MM Murugappan as the non-executive chairman. Founder chairman BVR Mohan Reddy will continue to be a part of the board as a non-executive director and will play an active role in mentoring and guiding the Cyient leadership team.
BVR Mohan Reddy, founder chairman of Cyient, said, “We have created employment for about 14,000 professionals worldwide, several of whom have been associated with me for over 25 years. Our customer-centricity helped us build lasting value for our clients, some partnering for more than two decades.”
“I have accomplished my mission of building a lasting institution and now leave Cyient in the safe hands of the next-generation leadership-Krishna Bodanapu and the team. The role of chairman will transition to MM Murugappan, who, with an impeccable track record, has been associated with the company as a lead independent director since its IPO in 1997,” Mohan Reddy added.
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