Cyient Q4 results: Net profit rise 15.9% at Rs 189 crore, revenue up 6.3%

India’s Cyient reported bigger-than-expected fourth-quarter revenue on Thursday, as engineering and technology, its largest segment, benefited from continued client spending.

WHY IT’S IMPORTANT

India’s $254 billion IT sector has been struggling in recent quarters as clients cut spending on non-essential projects.
However, engineering and tech services companies such as Cyient have been able to tide over as they focus on providing services to the transportation, mining and energy sectors, whereas larger IT services firms, including Tata Consultancy Services and Infosys, mainly cater to sectors such as banking, financial services, and insurance (BFSI).