Software major Cyient Ltd posted a net profit of Rs 163 crore in the fourth quarter of fiscal year 2022-23, which is 5.5 percent higher as against the profit of Rs 154.2 crore clocked in the year-ago period, as per the financial results released by the company on April 20.
The net profit is also 4.5 percent higher sequentially, as compared to Rs 156 crore recorded in the December 2022 quarter.
Cyient's net profit in Q4FY23 is marginally higher in comparison to the CNBC TV-18 poll that had predicted the Hyderabad-based company to report a net profit of Rs 161.5 crore during the quarter.
The revenue from operations in Q4 climbed by a massive 30 percent to Rs 1,751.4 crore. In the year-ago period, it stood at Rs 1,230.6 crore.
Also Read | What makes the Q4 flop show a bigger pain for Infosys than for TCS?
Cyient's revenue from operations also increased six percent sequentially, as it had come in at Rs 1,645.7 crore in the third quarter of the recently gone-by fiscal.
The company also informed the stock exchanges that its board has recommended a final dividend of Rs 16 per equity share, on par value of Rs 5 a share, for FY23.
In another regulator update, Cyient said its chief financial officer Ajay Aggarwal has retired, in effect from April 20, and Prabhakar Atla has been appointed in his place.
The shares of Cyient inched higher at the stock market, ahead of the Q4 results being declared. The scrip settled at Rs 1091.45 apiece at the BSE, which was 2 percent higher against the previous day's close.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
