Shares of Cyient DLM Ltd., the demerged entity of Cyient Ltd., declined as much as 8% on Wednesday, July 23, after the company reported its June quarter results post-market hours on Tuesday.For the first quarter of FY26, Cyient DLM reported a 29.6% year-on-year decline in net profit to ₹7.5 crore, compared to ₹10.6 crore in the same period last year.
The decline in profit was primarily due to a reduction in other income, attributed to the deployment of IPO proceeds, as well as non-cash amortisation of intangibles arising from acquisitions, costs that were not present in the previous year.
Revenue rose 8% year-on-year to ₹278 crore from ₹257.8 crore. The moderation in growth was largely due to the completion of a large order in FY25, partially offset by the contribution from an acquisition concluded in the second half of last year.EBITDA grew 25% year-on-year to ₹25 crore from ₹20 crore, with operating margin expanding to 9% from 7.8%. The growth in EBITDA was supported by a favourable mix and a marginal increase in volumes.
The decline in profit was primarily due to a reduction in other income, attributed to the deployment of IPO proceeds, as well as non-cash amortisation of intangibles arising from acquisitions, costs that were not present in the previous year.
Revenue rose 8% year-on-year to ₹278 crore from ₹257.8 crore. The moderation in growth was largely due to the completion of a large order in FY25, partially offset by the contribution from an acquisition concluded in the second half of last year.EBITDA grew 25% year-on-year to ₹25 crore from ₹20 crore, with operating margin expanding to 9% from 7.8%. The growth in EBITDA was supported by a favourable mix and a marginal increase in volumes.
At present, Cyient DLM shares were trading 3.09% lower at ₹466.05 on Wednesday. The stock is down over 30% year-to-date.
