Cyient Reports Highest Ever Quarter With Strong Growth in DLM Business

- Advertisement -
- Advertisement -

Cyient’ s CFO says the company witnessed highest-ever revenue, operating profit, FCF and PAT for a quarter in Q2 FY19

Krishna Bodanapu, Managing Director and CEO, Cyient

Cyient Limited- a global provider of engineering, manufacturing, geospatial, network, digital and operations management solutions to global industry leaders – has released its consolidated financial results for the second quarter (Q2) of FY 2019 ending September 30, 2018.

The Hyderabad-based company witnessed the highest-ever revenue ($168.9Mn), operating profit (₹1,626Mn), FCF (₹1,585Mn) and PAT (₹1,271Mn) in Q2 FY19 for a quarter, according to Ajay Aggarwal, President & CFO, Cyient Limited.

- Advertisement -

It also witnessed a strong growth of 6.5% QoQ and 14.5% YoY in constant currency driven by growth across Aerospace and Defense, Transportation, Industrial, Energy and Natural Resources (IENR) and Semiconductor, IOT and Analytics (SIA) business units.

The services business witnessed a growth of 3.5% in constant currency while DLM business witnessed a growth of 27%.

Q2 Business Highlights

In the second quarter of FY 2019, Cyient Systems and Solutions (CSS), the company’s joint venture with BlueBird Aerosystems, won a bid from an Indian Defence unit to supply SpyLite HAASS systems for high altitude surveillance. As part of this bid, CSS will supply two systems through the year.

The company’s New Business Accelerator (NBA) Program focused on technology driven solutions continues to make good progress with all projects on track for commercial development.

“The NBA is expected to accelerate Cyient’s EPS growth over the next few years,” said Krishna Bodanapu, Managing Director and Chief Executive Officer, Cyient.

Other business achievements attained in the Q2 include opening its Experience Centre at Blacktown in Australia, extending Pune Facility to accommodate growth in John Deere and launch of TRM at Farnborough Airshow 2018.

Awards & Recognitions

This quarter, Cyient was recognized as the Top IT/ITES Exporter in the Rs 1,000 crore export category by HYSEA and its Chairman, BVR Mohan Reddy was also conferred with a Lifetime Achievement Award at the 26th HYSEA Awards.

The company was also named as one of the Top 20 most promising Aerospace Tech Solutions Providers by CIO Review.  

“We were selected for our ability to illustrate the functionality of services, systems, and solutions, and for being at the forefront of impacting the aerospace market. Cyient was identified as a ‘Major Contender” in the Everest Group Verification & Validation engineering services Peak Matrix 2018 in the quarter,” Bodanapu noted.

Expressing happiness on reporting yet another very strong quarter, Bodanapu stressed that their outlook for FY 19 continues to remain strong and expects a double digit growth.

“We expect a double digit growth in our services business, our DLM business will grow in high double digits. We also expect double digit growth in operating profit through the year. Our operating margin is expected to marginally improve through the year driven by operational improvements and upsides from exchange rates, some of which will be offset by wage hikes and investments we make through the year,” he added.


- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

5G RedCap To Transform IoT Module Shipments

0
Over 60% of IoT module shipments will originate from the Asian & Oceania region. Automotive sector is expected to be a significant driver. The...
XR Headset Quest 3, Meta

Global XR Headset Shipments See A Major Decline, Sony Rises

0
Sony grabbed a market share of 24% in 2023 up from 1% in 2022. Bulky form factor, and lag, hinder adoption by serious...

Buzz

Tenstorrent- RISC V cores

MosChip Collaborates With Tenstorrent For Advanced RISC-V Cores

0
Tenstorrent has selected Moschip due to their tape out expertise in design services. India’s MosChip Technologies has announced partnership with computing company Tenstorrent and to...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Important Sectors

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Subsidy Cuts Push E2W Makers Towards Budget Models

0
Electric two-wheeler manufacturers face reduced government subsidies and growing competition from established petrol vehicle brands in the upcoming fiscal year. These challenges compel them...

Nissan To Invest In Renault’s Ampere For EV Roadmap

0
The alliance aims to introduce both five-seater and seven-seater models for each brand in India. Japan's Nissan Motor has committed to investing in Renault's electric...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...