Live
- DEO suspends teacher accused of sexual assault
- PM ‘cursing’ Congress out of despair: Maharashtra Cong Chief
- Applications are invited for Junior Colleges Scheme District Scheduled Castes Development Officer Ramlal
- A nomination was filed on the second day for the Nagar Kurnool parliamentary seat
- SP Gaikwad inspected the Telangana Amarnath Saleswaram Jatara yatra arrangements
- Rahul Gandhi's decision to contest from Wayanad shows 'lack of confidence': BJP President Nadda
- IPL 2024: Delhi bowlers will go after all of SRH’s top-order batters, says head coach Ricky Ponting
- At Amroha rally, PM Modi sends out ‘meaningful’ message for Muslims and Hindus
- Tripura records highest 79.83 pc voter turnout in Northeast
- The government has to clear the confusion
Cyient Q3 net up 17.6% to Rs 108 crore
City-based IT firm Cyient on Thursday reported a 17.6 per cent rise in net profit at Rs 108.3 crore for the December 2019 quarter.
Hyderabad: City-based IT firm Cyient on Thursday reported a 17.6 per cent rise in net profit at Rs 108.3 crore for the December 2019 quarter.
The Hyderabad-based company had posted a net profit of Rs 92.1 crore in October-December quarter a year ago, Cyient said in a statement. Its revenue, however, decreased 6.9 per cent to Rs 1,106 crore for the period under review as against Rs 1,187.6 crore in the third quarter (Q3) of 2018-19.
"PAT increased by about 10 per cent quarter-on-quarter, primarily on account of higher other income," it said.
In dollar terms, net profit rose 18.6 per cent to $15.2 million, while revenue was lower by 6 per cent at $155.2 million in the said quarter year-on-year.
Cyient MD and CEO Krishna Bodanapu said the third quarter is generally slow.
"As part of this agreement (with one of our key clients), we have provided a one-time discount in Q3. This agreement will accelerate our growth in the coming years and since the cumulative impact was taken in Q3 it has resulted in a de-growth," he added.
