India's Cyient falls most in over four years on weak Q1, outlook

Cyient

26/07/2024 05:23

** Shares of engineering tech co Cyient  CYIE.NS  down 8.7%
at 1,729 rupees, biggest intra-day drop since May 2020
    ** Co on Thursday reported 14.4% Y/Y drop in Q1 profit on
project deferrals
    ** Co sees flat FY25 growth for digital, engineering and
technology segment
    ** Q1 was disappointing across all fronts, revised growth
and margin guidance appear ambitious, will require strong 
performance throughout FY25, which is challenging -
PhillipCapital said in a note
    ** Including day's losses stk down 4.9% YTD 



 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))