Cyient DLM Q1 net profit jumps 98.10% y-o-y

23 Jul 2024 , 12:39 PM

Cyient DLM Ltd reported a 98.1% year-on-year (YoY) increase in net profit to ₹10.5 Crore for the first quarter ending June 30, 2024.

In the same quarter, Cyient DLM reported a net profit of ₹5.3 Crore, according to a regulatory filing. Revenue from operations climbed by 18.7% to ₹257.8 Crore, up from ₹217.1 Crore in the previous fiscal period.

In Q1 of this fiscal year, EBITDA remained constant at ₹19.9 Crore. The EBITDA margin was 7.7% in the reporting quarter, compared to 9.2% the previous year.

Cyient DLM has added four new global clients to its portfolio. These include a global semiconductor firm that specialises in electronic production, a transfer project from a well-known global defence OEM, a medtech company that develops diagnostic equipment for the international market, and a significant defence and aerospace company.

Cyient DLM’s defense and aerospace segments grew 79.6% and 78.1% year on year in Q1, respectively. However, the industrial section fell 81.6% year on year due to lower demand, whereas the medtech segment increased by 16.1% over the same time in FY24.

The company’s printed circuit board assembly (PCBA) division retained a large share across industry categories, while precision machining revenues, classified as ‘others,’ accounted for 0.8%.

Cyient DLM’s export share remained robust, owing to growing demand from aerospace and defence customers, while the domestic business mix stood at 42%, predominantly from the defence industry.

At around 10.42 AM, Cyient DLM was trading 1.54% lower at ₹1,850.20 per piece, against the previous close of ₹1,879.05 on NSE. The counter touched an intraday high and low of ₹1,905, and ₹1,846.20, respectively.

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