/ Cyient Expects Softer Q3 Revenue & Profit Anticipated To Be Marginally Up ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 12 January 2017

The IT consulting and software company, Cyient is likely to post 2.4% and 2.8% growth in topline and bottomline, respectively. Thereby, the company may see revenues and net profit at Rs 935.5 crore and Rs 100 crore, respectively. Dollar revenue would increase by $ 138.7 million i.e. 1.6% up from the previous quarter. 

Moreover, company’s operating profits may see a 2.2% growth to Rs 130 crore qoq; whereas margins may remain flat.

Like most other IT companies, Cyient’s Management too had given a softer outlook in Q3, ahead of seasonal weakness amid furloughs and festive holidays during the end of the calendar year, where the company witnessed 3-4% de-growth in capacity. The company had posted 9.4% and 31.5% qoq growth in revenue and net profit, respectively in September 2016 quarter.

The stock of Cyient is trading higher by 3% at Rs 507 levels, ahead of the results. The stock strived to give a consolidation breakout on an intraday basis by hitting a high at 544 levels in the first half an hour itself, but is off day’s high now.

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