India's Cyient slips on quarterly profit decline

Cyient

23/01/2026 05:02

** Shares of Cyient CYIE.NS fall as much as 1.9%; last down 1.1% at 1,121.9 rupees

** The engineering, research and development (ER&D) firm reports 24.9% fall in Q3 consol net profit to 918 million rupees ($10.02 million) year-on-year

** Co incurred one-time charge of 420 million rupees to comply with new labour codes implemented in November

** Revenue in its digital, engineering and technology (DET) segment, which accounts for around 75% of overall revenue, fell 0.7%, which the company attributed to "a fluid macroeconomic environment and a typically soft third quarter due to furloughs"

** Motilal Oswal ("Sell"; PT: 1,000 rupees) says while DET grew 1.9% Q/Q in constant currency, it indicates stabilization rather than a full demand recovery

** Says pace of deal closures and ramp-ups will be critical to sustaining growth over next few quarters

** Stock rated as "Hold" on average by 18 analysts; median PT at 1,240 rupees - LSEG data

** Stock fell 39.2% in 2025

($1 = 91.6100 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))