India's Cyient misses quarterly profit view on one-time charge, higher costs

Cyient

23/04/2026 14:07

April 23 (Reuters) - India's Cyient CYIE.NS reported fourth-quarter profit below estimates on Thursday, hurt by a one-time charge and higher expenses, and approved a share buyback worth 7.2 billion rupees, its first since 2019.

The company said its board had decided not to proceed with dividend distribution and would also explore a fundraise to support growth.

Here are the details:

The engineering, research and development company posted a consolidated net profit of 548 million rupees ($5.82 million) for the quarter ended March 31.

This is well below analyst estimates of 1.64 billion rupees, as per data compiled by LSEG.

Cyient, which serves clients including Honeywell and Bharat Electronics, recorded an exceptional charge of 712 million rupees related to a proposed acquisition that did not proceed.

Total expenses rose 5.4% to 17.86 billion rupees during the quarter.

Total revenue came in at 19.54 billion rupees, beating analyst estimates of 17.57 billion rupees.

Earlier this week, Tata Elxsi TTEX.NS beat profit estimates on strong transport and media growth, while L&T Technology Services LTEH.NS missed revenue and profit forecasts due to weak tech and mobility demand and a one-time restructuring charge.

Shares of the company fell 2.8% ahead of the results.

($1 = 94.1050 Indian rupees)

 (Reporting by Bipasha Dey in Bengaluru; Editing by Abinaya V and Harikrishnan Nair)

 ((Bipasha.Dey@thomsonreuters.com;))