Cyient, a global engineering and digital solutions company, announced its financial results for the second quarter of FY24 on 19th October 2023. The company reported a significant increase in both revenue and profit compared to the same period last year. The topline grew by 27.38% year over year, while the profit increased by an impressive 125.41% year over year.
In comparison to the previous quarter, Cyient’s revenue saw a growth of 5.46% and the profit increased by 6.07%. This indicates a positive trend in the company’s financial performance.
One of the key factors contributing to this growth is the decline in selling, general, and administrative expenses by 1.07% quarter over quarter. However, on a year-over-year basis, these expenses increased by 18.86%. This indicates that the company has been able to effectively manage its expenses to improve profitability.
Cyient also reported an increase in operating income, which was up by 7.13% quarter over quarter and 111.5% year over year. This indicates the company’s ability to generate more income from its core operations.
The earnings per share (EPS) for the second quarter of FY24 stood at ₹16.54, representing a significant increase of 91.56% year over year. This indicates the company’s strong financial performance and the potential for future growth.
In terms of stock performance, Cyient has delivered a return of -0.64% in the last week, 61.58% in the last six months, and an impressive 117.4% year to date. This suggests that the company’s stock has been performing well and has provided significant returns to investors.
Currently, Cyient has a market capitalization of ₹19354.25 Cr and a 52-week high/low of ₹1945 and ₹723.8 respectively. This indicates the company’s strong position in the market and investor confidence in its future prospects.
According to the data as of 21st October 2023, out of 17 analysts covering the company, 5 analysts have given a Hold rating, 4 analysts have given a Buy rating, and 8 analysts have given a Strong Buy rating. This suggests a positive sentiment among analysts regarding Cyient’s future performance.
The consensus recommendation as of 21st October 2023 was to Buy, indicating that analysts believe the company has strong growth potential and is a good investment option.
| Period | Q2 FY24 | Q1 FY24 | Q-o-Q Growth | Q2 FY23 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1778.5 | 1686.5 | +5.46% | 1396.2 | +27.38% |
| Selling/ General/ Admin Expenses Total | 857.6 | 866.9 | -1.07% | 721.5 | +18.86% |
| Depreciation/ Amortization | 65.8 | 67.6 | -2.66% | 63 | +4.44% |
| Total Operating Expense | 1524.7 | 1449.6 | +5.18% | 1276.2 | +19.47% |
| Operating Income | 253.8 | 236.9 | +7.13% | 120 | +111.5% |
| Net Income Before Taxes | 240.3 | 219.3 | +9.58% | 108.5 | +121.47% |
| Net Income | 178.3 | 168.1 | +6.07% | 79.1 | +125.41% |
| Diluted Normalized EPS | 16.54 | 15.97 | +3.53% | 8.63 | +91.56% |
FAQs
Question : What is the Q2 FY24 profit/Loss as per company?
Ans : ₹178.3Cr
Question : What is Q2 FY24 revenue?
Ans : ₹1778.5Cr
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Updated: 21 Oct 2023, 02:52 AM IST