Cyient DLM stock tanks over 14% after Q3 profit declines

New Delhi: Shares of Cyient DLM tanked more than 14 per cent on Wednesday after the electronic manufacturing services firm reported a decline in its December quarter profit.

The scrip of the company plummeted 14.11 per cent to end at Rs 512 apiece on the NSE. On the BSE, the stock of Cyient DLM declined 13.55 per cent to settle at Rs 515.70 per piece.

In the intraday session, the company's shares slumped a little over 15 per cent each to Rs 505.65 and Rs 506.05 -- also its 52-week low -- on the NSE and BSE, respectively.

In volume terms, 30.64 lakh equity shares of Cyient DLM traded on the National Stock Exchange (NSE), and 2.88 lakh shares exchanged hands on the BSE, during the day.

On Tuesday, Cyient reported a revenue growth of 38 per cent year-on-year to Rs 444 crore in the December quarter. However, profit after tax was down 41.7 per cent YoY to Rs 10.8 crore due to higher expenses.

Employee costs and other expenses were higher in Q3 FY25 due to consolidation with Altek Electronics Inc. -- a firm that Cyient DLM acquired in October 2024, the company said in a regulatory filing.

The company's operating profit, or earnings before interest, tax, depreciation and amortisation (EBITDA), also fell 5.3 per cent YoY to Rs 27.9 crore in the December quarter.

Cyient DLM's order backlog at the end of December 2024 also declined by Rs 152 crore to Rs 2,143 crore on a year-on-year basis, it added.

Cyient DLM, a subsidiary of Cyient, is a leading integrated EMS and solutions provider with a focus on the entire life cycle of a product, including design, build, and maintenance.