- Customers and analysts recognize its technology-led approach to deliver strategic outcomes
- Well-positioned to address the megatrends of the next decade, future of mobility, sustainability, autonomous operations, human well-being with its tech solution portfolio
- Extends its solutions portfolio across intelligent products, nextgen connectivity solutions, data and AI platformization, and sustainable technologies
Hyderabad : Cyient, a global engineering, manufacturing, and digital technology solutions company, announced its financial results for the quarter ended December 31, 2021. During this period, the company reinforced its commitment to strengthening future-ready capabilities and steadily pivots toward being a consulting-led technology solutions partner for its customers.
Financial highlights for the quarter:
- Group revenue at ₹1,183.4 crores with YoY growth at 13.3%
- Group EBIT margin of 13.9% leading to highest ever operating profit
- Q3 PAT at ₹131.7 crores, leading to best-in-class YoY growth of 38.0 %
- Group Order Intake stood at ₹1,690 crores, YoY growth of 15.9%
- Offshoring at 51.3%, highest in the last ten quarters
Krishna Bodanapu, Managing Director and CEO, Cyient, said, “We have delivered another robust quarter on the back of strategic wins and partnerships. Most operating parameters are at historical highs, and we are confident we can build on this and continue to deliver accelerated performance. Our focus continues to be a trusted tech solutions partner for our customers in their transformation journeys to address the megatrends of the next decade. Our investments in technology and automation have empowered our delivery and operations to deliver continued customer success amidst the challenges posed by yet another surge of COVID. I am grateful to our associates for their unwavering commitment in these challenging times.”
During this quarter, Cyient fortified its consulting-led tech solutions centric strategy with its foray into management consulting under the umbrella of – Cyient Consulting. With Cyient Consulting, the company will codesign bespoke, practical, performance-based business transformation solutions for enterprises across industries to enable sustainable growth.
The global analyst community has recognized Cyient’s focus on digital engineering and tech-led innovation. Cyient was recognized as an expansive-established player in the overall ER&D and IoT Services in the 2021 Zinnov Zones ratings. Cyient was also named as a Major Contender in the Everest Group PEAK Matrix® for 5G Engineering Services for its focused investments in partnerships and solutions that strengthen public and private 5G core and access network. And the ISG Provider Lens Quadrant Study on Manufacturing Industry Services 2021 ranked Cyient as a leader in digital engineering for the US region.
Cyient, as a Select-Tier Consulting Partner in the AWS Partner Network (APN), continues to accelerate tech transformation journeys for multiple customers. The company also recently joined forces with the International Aerospace Quality Group (IAQG), which underlines its commitment toward adopting the latest quality standards in its engineering and digital solutions.
Cyient also launched its “Technology Leadership Program (TLP)” that will develop select associates to be trusted advisors on technologies of tomorrow with a consultative approach. They will be instrumental in delivering our vision of applying technology imaginatively to solve problems that matter for its customers.
Also, in this quarter, the Cyient Foundation announced its support to The Asian Healthcare Foundation (AHF) to help nurture social innovation with cutting-edge technologies in healthcare to create a healthier tomorrow for our communities.