Bodanapu expects Cyient’s revenue to touch $1 billion by FY25, driven by increased technology spending by customers and improving the deal mix.
Karthikeyan Natarajan has been appointed as CEO and will continue to be executive director of Cyient and Prabhakar Atla has been appointed as the CFO designate
The Hyderabad-based firm, which provides technology and engineering solutions to an array of Fortune-500 companies, is evaluating which units fit well with their portfolio.
IT firm Cyient, formerly known as Infotech Enterprises, today said it has entered into a long-term agreement with thyssenkrupp Elevator, to support its MAX platform.
"Italian company ASE S.p.A and Cyient Inc, on February 15, announced a joint go-to-market agreement for joine market development of products in electric power generation arena," the company said in its filing.
IT firm to buy 100 percent stake in US-based Certon Software in an all cash transaction for $7.5 million. The company's management expects the acquisition to be marginally EPS accretive.
The Hyderabad-based company had posted a net profit of Rs 82.74 crore in the corresponding quarter a year ago, Cyient said in a statement.
Softential, a Cyient company dealing in service operations management, was also a major dissapointment in FY16, bringing lower than anticipated revenues. But Bodanapu expects it to do better in the future and says it is going to fetch them little over $20 million in the coming year.
Cyient's revenue stood at Rs 815.8 crore in the said quarter as against Rs 730 crore in the year-ago period, up 11.8 per cent.
In an interview with CNBC-TV18, Krishna Bodanapu, CEO and MD of Cyient said that capacity output in Q3 was low due to fewer working days which resulted in a weak quarter. However, he expects better revenue in Q4.
IT firm Cyient Ltd on Wednesday announced that it has acquired Singapore-based Global Services Engineering Asia from Pratt & Whitney Services Pte for an undisclosed sum.
Cyient reported a mixed set of earnings with a miss on the revenue front and a beat on the margins. Krishna Bodanapu, MD & CEO of Cyient spoke about the results and his outlook for the company.
According to Krishna Bodanapu, a project that the company was expecting to complete and bill in Q4 got pulled into Q3, aiding the margins quite significantly.
In an interview to CNBC-TV18, Krishna Bodanapu, MD & CEO of Cyient, said the business momentum in the current year is better than last year.
Hyderabad-based engineering, network and operations solutions company (earlier known as Infotech Enterprises) on Wednesday reported a 31.7 percent (sequential) growth in second quarter net profit at Rs 90.2 crore led by strong revenue and operational performance.
Krishna Bodanapu, MD and CEO, Cyient says that growth in Q2 was broad-based as growth in data network operations stood at 10 percent while top 20 clients grew at 6.1 percent.
Krishna Bodanapu, President & COO, Infotech said Softential's 2013 revenue stands at USD 17-18 million. The price paid for the buyout includes 1.1 times of its 2013 revenue plus another performance-based payout component based on EBITDA over the 12 months.
Infotech Enterprises is quite confident of its order backlog and pipeline and aims to delivering strong results going forward.
As far as the pricing environment goes, Krishna Bodanapu, President & COO of Infotech says the days of automatic price increases are over.
The company has articulated an acquisition strategy that will help in fulfilling gaps in terms of capabilities or geographic locations and given the resources at the company‘s disposal, the only limiting factor is the management bandwidth, says Krishna Bodanapu, President & COO of Infotech.
Krishna Bodanapu, President & COO, Infotech Enterprises told CNBC-TV18 that he still believes that the company will have a better year as compared to last year.
Though Krishna Bodanapu, President and COO of Infotech Enterprises feels that the company may face some short-term challenges in Q4, he is confident of things being positive in FY14.