Cyient Q2 results live: Profit rises 0.45% YoY

Cyient Q2 Results Live: Cyient announced its Q2 results on October 24, 2024, showing 3.97% YoY revenue growth and 0.45% YoY profit growth. Compared to the previous quarter, sales recorded a strong growth of 10.35%, while profits increased by an impressive 24.46%.

The company’s financial performance was impacted by rising selling, general and administrative expenses, which increased 0.85% quarter-on-quarter and 5.2% year-on-year. This increase in spending has been a notable factor as Cyient navigates the current economic landscape.

Despite the increase in sales, operating profit showed a mixed performance: it increased by 15.81% compared to the previous quarter, but fell by 9.1% year-on-year. Earnings per share (EPS) for the second quarter were ₹16.14, a decrease of 2.41% compared to the same quarter last year.

In terms of market performance, Cyient has faced challenges, returning -4.37% in the last week, -7.18% in the last six months, and a respectable year-to-date return of -22.48%. The company currently has a market capitalization of ₹19,562.68 crore, with a 52-week high of ₹2,458.95 and a low of ₹1,542.10.

As of October 25, 2024, ratings from the 18 analysts covering Cyient are mixed: 1 analyst has issued a Sell rating, 7 analysts have a Hold rating, 7 analysts have a Buy rating, and 3 analysts have issued a Strong Buy rating Recommendation. The consensus recommendation is “Buy,” indicating a positive outlook from analysts.