Cyient down 4% on poor June quarter numbers

13 July, 2018 4:21 AM

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Cyient down 4% on poor June quarter numbers

Share price of Cyient fell 4.5 percent intraday Friday on the back of weak June quarter (Q1FY19) numbers.

The company has reported 6 percent fall in its Q1 net profit at Rs 82.5 crore against Rs 87.8 crore in the same quarter of last fiscal.

Meanwhile, revenues of the company was up 19 percent at Rs 1080 crore against Rs 907 crore.

During the quarter ended June 30, 2018, the company allotted 3,11,380 equity shares of Rs 5 each, consequent to the exercise of the stock options by the associates of the company.

Earlier in this week, the company signed a definitive agreement to acquire the remaining 49 percent equity stake in Cyient Insights.

At 09:47 hrs Cyient was quoting at Rs 724.70, down Rs 17.30, or 2.33 percent on the BSE.

The share touched its 52-week high Rs 887.00 and 52-week low Rs 475.20 on 11 May, 2018 and 27 September, 2017, respectively.

Currently, it is trading 18.32 percent below its 52-week high and 52.46 percent above its 52-week low.

Also read: Dilip Buildcon gains 3% as co declares lowest bidder for metro rail project in MP

Source: moneycontrol.com

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