Cyient Q2 Results Live: Profit Rises by 0.45% YoY | Company Business News

Cyient Q2 Results Live : Cyient declared their Q2 results on October 24, 2024, revealing a topline growth of 3.97% year-over-year, along with a profit increase of 0.45% YOY. Compared to the previous quarter, revenue witnessed a robust growth of 10.35%, while profits surged by an impressive 24.46%.

The company’s financial performance was impacted by rising Selling, General & Administrative expenses, which rose by 0.85% quarter-on-quarter and 5.2% year-over-year. This increase in expenses was a notable factor as Cyient navigated through the current economic landscape.

Despite the increase in revenue, the operating income saw a mixed performance, up by 15.81% quarter-on-quarter but down by 9.1% year-over-year. The earnings per share (EPS) for Q2 stood at ₹16.14, reflecting a decrease of 2.41% compared to the same quarter last year.

In terms of market performance, Cyient has faced challenges, delivering a -4.37% return over the last week, -7.18% over the past six months, and a significant -22.48% year-to-date return. Currently, the company boasts a market capitalization of ₹19,562.68 crore, with a 52-week high of ₹2,458.95 and a low of ₹1,542.10.

As of October 25, 2024, out of the 18 analysts covering Cyient, the ratings are mixed: 1 analyst has given a Sell rating, 7 analysts have a Hold rating, 7 analysts have a Buy rating, and 3 analysts have issued a Strong Buy recommendation. The consensus recommendation stands at ‘Buy’, indicating a positive outlook among analysts.