Hyderabad-based Cyient shares plunge 19 per cent on poor December quarter show-Telangana Today

Company’s digital, engineering and technology segment reported a 28.3 per cent year-on-year decline in net profit; Karthikeyan Natarajan resigns as executive director and chief executive officer

Hyderabad: City-based IT company Cyient share price plunged 18.49 per cent in early trade on Friday, January 24, on weak December quarter results.

The shares were trading at Rs 1,430 (down Rs 325.25) at 11.04 pm on the BSE on January 24.

The company’s DET (digital, engineering, and technology) segment reported a 28.3 per cent year-on-year decline in net profit to Rs 124 crore during the third quarter of FY25.

Revenue at Rs 1,480 crore for the third quarter was up 2.1% quarter-on-quarter (QoQ) but declined 0.8% year-on-year.

Karthikeyan Natarajan also resigned as executive director and chief executive officer of the company effective immediately to “explore new challenges and opportunities,” it said.

The company also announced expanding its partnership with Allegro Microsystems. It expects its Center of Excellence (CoE) on the Manikonda campus in Hyderabad to play a crucial role in accelerating the development of power integrated circuit (IC) product portfolios. These are essential components used in electric vehicles, advanced driver-assistance systems (ADAS), and other automotive applications.

“Our pipeline for the year has improved, with large deals contributing significantly to a strong pipeline, positioning us for sustainable growth in the medium term,” said Krishna Bodanapu, executive vice chairman and managing director. The company won 13 large deals in DET business with a total contract potential of $234.5 million in Q3FY25.

Meanwhile, it has inducted Debjani Ghosh, a Distinguished Fellow at NITI Aayog and former president of NASSCOM, into the Board as an Independent Director.