Fri Jan 24 04:30:00 UTC 2025: **Cyient CEO Resigns Amid Mixed Q3 Earnings Report**

**MUMBAI, INDIA (January 24, 2025)** – Cyient Ltd., a digital, engineering, and technology (DET) services company, announced today that its CEO, Karthikeyan Natarajan, has resigned, effective immediately. The resignation comes as the company reported mixed results for the third quarter of fiscal year 2025.

While Cyient saw a slight increase in revenue from operations—reaching ₹1,909.8 crore, a 0.5% quarter-on-quarter (QoQ) and 3.78% year-on-year (YoY) growth—profit after tax declined by 16.64% YoY. The DET segment, however, performed relatively well, reporting earnings before interest and taxes (EBIT) of ₹200 crore (a 13.5% margin) and a 5% YoY increase in order intake. The company also highlighted a record-high order intake of $312.3 million for the quarter, with 13 large deals secured.

Executive Vice Chairman and Managing Director Krishna Bodanapu emphasized the positive aspects of the results, noting a 4.5% YoY growth in Group revenue (in constant currency) and strong traction in the Semiconductor business. He also expressed confidence in the company’s pipeline, suggesting sustainable medium-term growth.

Despite the positive outlook, the news of Natarajan’s departure sent shockwaves through the market. Cyient’s stock price experienced a significant 15% decline on the National Stock Exchange of India (NSE) following the announcement. Natarajan cited the pursuit of new challenges and opportunities as the reason for his resignation.

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