Cyient Ltd

Cyient, formerly Infotech Enterprise, posted a very dull and staid, no-major-fireworks kind of consolidated numbers for Q1FY17. Its revenue for the quarter rose 831 crore, up 2% (QoQ) and net profit was at Rs.74 crore, up 12%. EBITDA for the quarter rose 3% at Rs.109 crore. Margins were flat at 13.1% v/s 13% and this was on account of the increase in wages/salaries, which rose over 4%.

Employee count during the quarter rose from 13,595, up from 13,123 in Q4FY16. Looking ahead, the company said that it expects to deliver a strong Q2. Margin is expected to be flat to marginally positive for the year and it expects to deliver double digit earnings growth for the year. The company had a strong generation at Rs.81 crore and overall cash balance crossed Rs. 802 crore. It added 22 customers during the quarter.