Cyient DLM Stock Tumbles Amid Declining Profits

Shares of Cyient DLM, an electronic manufacturing firm, dropped over 12% due to a decline in quarterly profits. Despite a 38% revenue increase, high expenses and acquisition costs affected net profit and EBITDA. Stock hit a 52-week low on BSE and NSE.

Shares of electronic manufacturing firm Cyient DLM took a significant hit for the second consecutive day, falling more than 12 percent on Wednesday following disappointing quarterly profit results.

The company's stock plunged by 12.23 percent to Rs 523.55 on the BSE and dropped 10.75 percent to Rs 532 on the NSE.

In intra-day trading, the stock hit its 52-week low at Rs 515.50 and Rs 516 on the NSE and BSE, respectively.

Despite Cyient's revenue growing by 38 percent year-on-year to Rs 444 crore in the December quarter, profit after tax plummeted 41.7 percent YoY to Rs 10.8 crore, largely due to increased expenses.

The company cited higher employee costs and expenses following the consolidation with Altek Electronics Inc, acquired in October 2024. Operating profit, measured as EBITDA, also declined by 5.3 percent YoY to Rs 27.9 crore.

Cyient DLM's order backlog diminished by Rs 152 crore to Rs 2,143 crore at the year's end.

(With inputs from agencies.)