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Business News/ Companies / Company Results/  Cyient DLM Q4 results: Net profit rises 80.7% YoY to 22.7 crore, revenue comes in at 362 crore
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Cyient DLM Q4 results: Net profit rises 80.7% YoY to ₹22.7 crore, revenue comes in at ₹362 crore

Cyient DLM Q4 results: Cyient DLM reported a 23.3% QoQ rise in its net consolidate profit to ₹22.7 crore during the fourth quarter of financial year 2023-24.

Cyient DLM Q4 results: The net profit of the firm has increased to ₹22 crore during the fourth quarter of FY 24.Premium
Cyient DLM Q4 results: The net profit of the firm has increased to 22 crore during the fourth quarter of FY 24.

Cyient DLM Q4 results: Net profit rises to 22.7 crore, revenue comes in at 362 crore. Cyient DLM on Tuesday reported a 23.3% QoQ rise in its net consolidate profit to 22.7 crore during the fourth quarter of financial year 2023-24. The company had reported a net profit of 18.4 crore during the December quarter of FY24

The company reported an 80.7% YoY rise in its net profit from 12.6 crore during the year ago period.  Cyient DLM's share closed 2.79% higher at 687.35 per share on BSE on Tuesday.

Also Read: Tata Consumer Products Q4 Results: Net profit drops 22% to 267 crore, revenue down 8.5% YoY; dividend declared

Cyient DLM's revenue increased 12.7% sequentially to 362 crores against 321 crore in the previous quarter. On an annual basis, the total consolidate revenue increased by 30.5% from 277.4 crore. 

“Cyient DLM business focus remains on strengthening our capabilities and expanding our customer base. The robust growth for this year was led by Aerospace and Defence (A&D) segments. Large deals in A&D constitute major portion of Order Book and pipeline and are expected to contribute towards FY25 & FY26 growth," said Anthony Montalbano, CEO, Cyient DLM.

Also Read: Hindustan Unilever Q4 results tomorrow: FMCG major's revenue may rise 1.1% YoY with 3% volume growth; margin seen flat

Cyient DLM FY24 key highlights

-Cyient DLM's FY24 profit after tax (PAT) increased by 92.9% to 61.2 crore against 31.7 crore in previous financial year. Cyient DLM FY24 Revenue came in at 1,192 crores, with YoY growth of 43.2%. Whereas, it reported FY24 EBITDA of 111 crores, with a margin of 9.3% and YoY growth of 26.5%

-During the previous financial year 2023-24, Cyient DLM inaugurated new facilities in Bengaluru and Mysuru. 

Also Read: Patanjali in court: SC pulls up company, warns FMCG firms against misleading ads

-Cyient DLM's Bengaluru facility is built on a 36,000 sq ft of manufacturing area with main focus on incremental demand from existing customers and enable new opportunities and partnerships.

-The manufacturing facility in Mysuru will focus on growth in key segments like Medical and Industrial sectors.

Cyient DLM FY25 outlook

“Our outlook for FY 25 continues to remain strong, we expect strong growth backed by order book and strong relationships with our key clients. Our focus will be on expanding our geographic footprint globally through inorganic expansion," said the electronic manufacturing services firm in its press release on Tuesday.

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Published: 23 Apr 2024, 04:15 PM IST
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