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One-off other income gain boosts Cyient DLM Q2 net Business News & Hub

One-off other income gain boosts Cyient DLM Q2 net Business News & Hub

Cyient DLM reported consolidated net profit for the September quarter rose to ₹32.1 crore from ₹15.4 crore a year earlier on the back of one-off other income gains.

PAT (normalised) for Q2 is ₹12.6 crore, a decline of 18.7% YoY, the electronics manufacturing solutions provider said. The net profit came on revenue from operations that was 20% lower at ₹310.6 crore (₹389.4 crore).

“We continue to strengthen our capabilities, expand customer base and build a robust pipeline. Order intake has seen a 130% YoY growth in H1 and the pipeline of large deals in advanced stages are expected to drive future growth,” MD and CEO Rajendra Velagapudi said in a release.

Free cash flow stood at ₹27 crore, marking four consecutive quarters of positive cash flow and reflecting strong cash generation despite one-time land acquisition costs in the quarter under review, Cyient DLM said.

During the quarter, the company added two customers — a Japanese eVTOL company focused on next-generation mobility and an EV charging solutions provider, both aligned with the rapidly evolving electric mobility ecosystem. This is in line with Cyient DLM’s strategy to diversify, particularly around the automotive and electric vehicle domains. Buildto-Spec (B2S) elements in the programmes underscore the company’s growing role as a partner in end-to-end product realization, from design and engineering to manufacturing, it said.


Source: https://www.thehindu.com/business/one-off-other-income-gain-boosts-cyient-dlm-q2-net/article70163796.ece

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