Cyient Share Price Up 5.99%; Declares ₹12/Share Dividend, Q2 FY25 Revenue Reaches ₹1,450 Crore

Cyient Limited announced its financial results for the quarter ending September 30, 2024 and declared an interim dividend.

Financial Highlights for Q2 FY25

Cyient Digital, Engineering, and Technology (DET) segment revenue stood at ₹1,450 crores, marking a quarter-on-quarter (QoQ) growth of 2.5%. However, on a year-on-year (YoY) basis, there was a slight decline of 1.8%. Constant currency (CC) revenue for the company’s DET segment grew by 1.3% QoQ, while it saw a YoY decline of 3.3%.

Cyient DET’s earnings before interest and taxes (EBIT) amounted to ₹206 crores, representing a margin of 14.2%. The company’s DET segment recorded a profit after tax (PAT) of ₹177 crores, reflecting a YoY growth of 2.3%.

Commenting on the financial performance, the Executive Vice Chairman and Managing Director, Krishna Bodanapu, said, “Cyient Group witnessed positive Q2 FY25 results, with quarterly Group Revenue at US$ 220.7 Mn, growth of 2.6% YoY in constant Currency. We have reached an agreement to acquire 27.3% stake in Azimuth AI, a fabless custom ASIC company known for its expertise in Energy and Industrial applications with focus across global markets including India. This investment aligns strongly with our strategic growth objectives for the Semiconductor business.”

He further announced the company’s expansion into the Middle East, where they have made an agreement to acquire Abu Dhabi & Gulf Computer Est. (ADGCE), an Abu Dhabi-based technology consulting and digital services firm specialising in the energy sector.

Cyient’s board has also declared an interim dividend of ₹12 per equity share (240%) for the financial year 2024-25, based on the par value of ₹5 per share. The record date for the dividend is November 6, 2024, with payment scheduled for November 21, 2024. This move reflects the company’s commitment to delivering consistent returns to its shareholders.

Cyient Share Price

On October 25, 2024, Cyient share price opened at ₹1,859.95, up from its previous close of ₹1,777.55. At 9:50 AM, the share price of Cyient was trading at ₹1,884.00, up by 5.99%.

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