Cyient Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

Cyient announced that the Board of Directors of the Company at its meeting held on 25 April 2024, inter alia, have recommended the final dividend of Rs 18 per equity Share (i.e. 360%) , subject to the approval of the shareholders.

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Cyient will hold a meeting of the Board of Directors of the Company on 25 April 2024.

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Within the scope of this partnership, the companies will collaborate on the detailed design for manufacturing (DFM) of the rear fuselage section for the 40-seater D328eco regional turboprop aircraft.

Karthikeyan Natarajan, executive director and CEO of Cyient, said, “We are excited about our collaboration with Deutsche Aircraft to support the development of the D328eco aircraft. This partnership underscores Cyient's commitment to delivering innovative engineering solutions in the aerospace sector. Our expertise in the aircraft design and development life cycle will play a crucial role in developing the D328eco. Together, we look forward to driving advancements in aviation technology and contributing to the success of this transformative project,”

Dave Jackson, chief executive officer at Deutsche Aircraft, said, “Their vast experience in the Aerospace & Defence industry was one of the key factors in contracting them to be responsible for the design of the rear fuselage section as part of our D328eco aircraft development programme.”

Cyient is a consulting-led, industry-centric, global technology solutions company. It currently operates through eight strategic business units: aerospace & defense; transportation; industrial, energy, and natural resources; semiconductor, internet of things and analytics; medical and healthcare; utilities & geospatial; communications and design-led manufacturing (Cyient DLM).

The IT company's consolidated net profit tumbled 17.44% to Rs 147.2 crore in Q3 FY24 as against Rs 178.3 crore reported in Q2 FY24. Revenue from operations rose 2.41% quarter on quarter (QoQ) to Rs 1,821.4 crore in Q3 FY24.

The scrip fell 0.14% to ends at Rs 1,940.80 on Wednesday, 27 March 2024.

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Following this agreement, the company has been selected by Airbus for the development of a part of its cabin ‘Intelligent Core Management Platform’ (iCMP). These systems focus on enabling faster software updates, easy and rapid customization, and proliferation of digital services in Cabin. It has been working with Airbus, supporting the future-ready Cabins to deliver state-of the-art services requiring new technologies and significant data flow volumes.

Karthikeyan Natarajan, executive director and CEO, Cyient, said, “We thank Airbus for their confidence in our capabilities and partnering to work on their key future technology development programs. Cyient is committed to growing this partnership with Airbus to greater heights. We look forward to leveraging our technology expertise to support Airbus in their pursuit of transforming in-flight communication and diagnostics systems.”

Cyient is a consulting-led, industry-centric, global technology solutions company. It currently operates through eight strategic business units: aerospace & defense; transportation; industrial, energy, and natural resources; semiconductor, internet of things and analytics; medical and healthcare; utilities & geospatial; communications and design-led manufacturing (Cyient DLM).

The IT company's consolidated net profit tumbled 17.44% to Rs 147.2 crore in Q3 FY24 as against Rs 178.3 crore reported in Q2 FY24. Revenue from operations rose 2.41% quarter on quarter (QoQ) to Rs 1,821.4 crore in Q3 FY24.

The scrip declined 3.54% to end at Rs 1,894.50 on Wednesday, 13 March 2024.

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