Cyient Q3 Review - Good Revenue Growth, Ebit Margin Performance: IDBI Capital
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IDBI Capital Report
Cyient Ltd.’s Q3 FY21 consolidated revenue growth of 4.1% QoQ in constant currency terms was higher than our forecast. Ebit margin improvement of 14 basis points QoQ to 11.2% was a beat to our forecast of 9.7%.
Earning per share of Rs 8.7, up 5.2%/33.1% QoQ/YoY was also a beat.
The company expects the QoQ growth in Q4 FY21 to be at least similar to that in Q3 FY21 with a relatively better growth from services business.
Also, the company is confident of Q4 FY21 Ebit margin to see further QoQ improvement.
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