Moneycontrol Bureau
Hyderabad-based engineering, network and operations solutions company Cyient (earlier known as Infotech Enterprises) on Wednesday has reported a 31.7 percent (sequential) growth in second quarter net profit at Rs 90.2 crore led by strong revenue and operational performance. Profit in the previous quarter was Rs 68.5 crore.
The company missed street expectations on the bottomline front but rest of the numbers surpassed estimates. Profit in the quarter was expected at Rs 93.5 crore on revenue of Rs 584 crore, according to the average of estimates of analysts polled by CNBC-TV18.
Revenue during the quarter grew by 8.15 percent to Rs 672.4 crore compared to Rs 621.7 crore in previous quarter while dollar revenue growth was 6.7 percent at USD 111 million during the same period (as against forecast of USD 107.8 million).
Earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 23.3 percent quarter-on-quarter to Rs 108.1 crore from Rs 87.7 crore and margin expanded by 200 basis points to 16.1 percent in the quarter ended September 2014, which were higher than analysts' expectations of Rs 105 crore and 16 percent, respectively.
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