Cyient Ltd

Cyient, formerly Infotech Enterprise, posted a very dull and staid, no-major-fireworks kind of consolidated numbers for Q3FY17. Revenue was flat at Rs.917 crore, up less than 0.5% (QoQ). Higher costs pulled down the EBITDA by 5% at Rs.121 crore and margin slipped from 13.89% to 13.19%. Employee cost was stable and constitutes 63% of total cost. Interest cost was down 34%.

What saved the day for the company from a very poor show was the forex gain of Rs.32 crore. And this is what helped it end the quarter with a net profit at Rs.94 crore, down 3%. The company ended 24 customers during the quarter. There was a free cash flow generation of Rs.127 crore.