Cyient DLM Stock Plunges 12%, Hits 52-Week Low

New Delhi, Jan 22 (PTI) Shares of electronic manufacturing firm Cyient DLM continued to fall for the second day in a row, plummeting more than 12 per cent on Wednesday after the company reported a decline in its December quarter profit.

The scrip of the company plunged 12.23 per cent to trade at Rs 523.55 on the BSE. On the NSE, the stock depreciated 10.75 per cent to Rs 532.

In the intra-day session, the stock tanked 13.5 per cent each to Rs 515.50 and Rs 516 -- also its 52-week low -- on the NSE and BSE.

The company's shares on Tuesday fell marginally on the bourses.

On Tuesday, Cyient reported that its revenue grew 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 year-on-year basis, it added.