Cyient’s second quarter results announced: profit increased by 0.45% year-on-year

Cyient second quarter results live broadcast: Cyient announced its second quarter results on October 24, 2024. Revenue increased by 3.97% year-on-year, and profit increased by 0.45% year-on-year. Compared with the previous quarter, revenue increased significantly by 10.35% and profit increased by 24.46%.

The company’s financial results were affected by higher selling, general and administrative expenses, which increased 0.85% sequentially and 5.2% year-over-year. The increase in expenses is a factor worth noting as Cyient navigates the current economic climate.

Although revenue increased, operating income performance was mixed, with a month-on-month increase of 15.81% and a year-on-year decrease of 9.1%. Second quarter earnings per share (EPS) were $16.14, a decrease of 2.41% compared with the same period last year.

Looking at market performance, Cyient faces challenges, returning -4.37% last week, -7.18% over the past six months, and a whopping -22.48% year-to-date. Currently, the company’s market capitalization is $Rs 19,562.68 Crore, a new 52-week high $2,458.95 The lowest price is $1,542.10.

Of the 18 analysts covering Cyient as of October 25, 2024, ratings are mixed: 1 analyst has a sell rating, 7 analysts have a hold rating, 7 have a buy rating, 3 analysts recommend the stock with a Strong Buy rating. The consensus recommendation is “Buy,” indicating analysts are optimistic about the outlook.