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Cyient Q4 PAT jumps 29% QoQ to Rs 189 cr

26-Apr-24 13:00 Hrs IST

On year on year (YoY) basis, the company's consolidated net profit jumped 15.93% while revenue grew by 6.25% in Q4 FY24.

Consolidated profit before tax stood at Rs 259.1 crore in Q4 FY24, registering a growth of 29.74% QoQ and 24.87% YoY.

The IT firm's normalised profit after tax was at Rs 196.9 crore during the quarter, registering a growth of 2.66% QoQ and 11.94% YoY to. Normalised EBITDA rose 2.79% QoQ and up 4.1% YoY to Rs 335.2 crore in Q4 FY24. Normalised EBITDA margin stood at 18% in Q4 FY24 from 17.9% in Q3 FY24 and 18.4% in Q4 FY23.

The company?s Digital, Engineering, and Technology (DET) business delivered revenue at Rs 1,489 crore, recording de-growth of 0.1% QoQ and growth of 2.8% YoY. In constant currency terms, revenue was down by 0.5% QoQ and up 1.8% YoY.

During the quarter, Cyient DET order intake grew by 7.1% YoY.

Krishna Bodanapu, executive vice chairman and managing director, Cyient, said, ?For the year FY24, Cyient Group delivered US$863 million in revenue at a YoY growth of 15.6% in cc, EBIT of 14.5% with 173 bps expansion YoY, PAT of Rs 735 crore at YoY growth of 30%, and FCF of Rs 648 crore at YoY growth of 32.6%.

Cyient?s Digital, Engineering and Technology (DET) delivered US$ 179.3 million at an EBIT of 16% for Q4 FY24. We closed 9 large deals with a total contract potential of ca. US$ 200 million this quarter, taking our order intake for the quarter to US$ 228 million.

For FY24, Cyient DET delivered US$ 713.9 million at 12.6% YoY revenue growth in cc, 16.1% EBIT with 246 bps expansion YoY. PAT for the year was Rs 689 Crore, up 31.6% YoY while FCF for the year was Rs 754 Crore, a significant growth of 71.4% YoY. The full year order intake of US$ 902 million translates to 15% growth YoY with contributions from our key large units such as sustainability, transport and connectivity

For FY25, our order book looks strong, and we will continue to focus and invest on strengthening our intelligent engineering and technology solutions across key industries and megatrends. We are also confident that our presence in key industry verticals through our balanced portfolio will help us deliver balanced outcomes in the evolving market and geo-political uncertainties.?

Meanwhile, the company?s board recommended a final dividend of Rs 18 per equity share for the financial year 2023-24.

Cyient is a consulting-led, industry-centric, global technology solutions company. It currently operates through eight strategic business units: aerospace & defense; transportation; industrial, energy, and natural resources; semiconductor, internet of things and analytics; medical and healthcare; utilities & geospatial; communications and design-led manufacturing (Cyient DLM).

Shares of Cyient shed 0.27% to Rs 1,909.75 on the BSE.