ETtechThe midcap IT stock was trading 7.86% higher at Rs 1,177 on NSE.
For the quarter ended March 31, 2023, the company reported a net profit of Rs 163 crore, which was higher by 6%, compared with Rs 154 crore it posted in the same quarter last year.
On a sequential basis, the net profit rose 4% from Rs 156 crore in the preceding December quarter.
Revenue from operations during the quarter surged as much as 48% to Rs 1,751 crore as against Rs 1,181 crore in the year-ago period.
Further, the company has informed the exchanges that the board took note of the retirement of Ajay Aggarwal, Chief Financial Officer of the company effective April 20. It has appointed Prabhakar Atla as the new CFO of the company with effect from April 20.
Before being appointed as CFO, Prabhakar Atla steered the strategy, operations, sales, and P&L of the aerospace, rail, and communications business units at Cyient.
The stock has given returns of 43.5% over a 12-month period outperforming the Nifty50, which has given nearly 3% returns during the same duration, showed Trendlyne data.
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