IT firm Cyient reported consolidated net revenue elevated nearly 6% year-on-year to ₹163.2 crore in the course of the March quarter on the again of a more-than-48% progress in income from operations to ₹1,751.4 crore.
The firm has declared last dividend of ₹16 per share (par worth of ₹5 every) for 2022-23.
In the March quarter, “we won five large deals worth over $185 million and saw a 38.4% constant currency YoY growth in consolidated services revenue. We also completed three strategic acquisitions to extend our service offerings portfolio and enter newer markets,” government vice chairman and MD Krishna Bodanapu mentioned.
Antitrust lawsuit
In the notes accompanying the outcomes, Cyient mentioned one among its U.S. subsidiaries has incurred authorized prices of $2 million and $5.8 million on an antitrust lawsuit for the quarter and 12 months ended March 31 respectively. The subsidiary is amongst varied different corporations in a consolidated civil class motion antitrust lawsuit alleging that the defendants agreed to limit the employment of people.
