Cyient DLM's profit after tax in FY24 surges 93%

Cyient DLM is a subsidiary of software service company Cyient. It’s stock price closed April 23 at Rs 687.35 on BSE, recording a gain of 2.79 percent.

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Cyient DLM reported a strong 92.9 percent surge in profit after tax to Rs 61.2 crore for the financial year 2023-24, according to an exchange filing issued on April 23.

The company posted a revenue of Rs 362 crore for the quarter ended March 31, 2024, recording a growth of 12.7 percent quarter-on-quarter (QoQ) and 30.5 percent year-on-year (YoY), the filing showed. For the full year, revenue stood at Rs 1,192 crore, which was 43.2 percent higher compared to the same period of the past financial year.

The firm’s EBITDA for FY24 was at Rs 111 crore, with a margin of 9.3 percent and YoY growth of 26.5 percent, the company statement said.

Anthony Montalbano, chief executive officer, Cyient DLM, said, “Cyient DLM business focus remains on strengthening our capabilities and expanding our customer base. The robust growth for this year was led by aerospace and defence (A&D) segments. Large deals in A&D constitute major portion of Order Book and pipeline and are expected to contribute towards FY25 & FY26 growth."

The company further said that the outlook for FY25 “continues to remain strong and it expects strong growth backed by order book and strong relationships with key clients”. It also said that it will look for expanding its geographical footprint through inorganic expansions.

Cyient DLM is a subsidiary of software service company Cyient. It’s stock price closed on April 23 at Rs 687.35 on the BSE, recording a gain of 2.79 percent.

In FY24, the company added two new logos in A&D and bagged key large deals during the year. It also said that the company has a strong pipeline of projects for the years ahead. The company also added two new facilities in Bengaluru and Mysuru, the filing said.