Cyient shares experienced a 7% decline in early trading on January 29, 2024, following the company’s announcement of a 17.4% sequential drop in consolidated profit to INR 147.2 crore for the third quarter of FY24. This downturn was attributed to subdued revenue growth and higher exceptional losses.
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As of 12:35 pm, Cyient shares continued to trade 3.63% lower at ₹1,946.40.
Despite a modest 2.4% increase in quarterly revenue to INR 1,821.4 crore compared to the previous year, Cyient’s shares were at INR 1,960 on the NSE as of 10:18 AM, marking a 3% decrease from the previous session’s close, after some recovery.
