IT Stock engaged in the business of providing global technology services and solutions jumped 3 percent in the day’s trade upon signing a multiyear services agreement with Airbus for Cabin and Cargo Engineering.
With a market capitalization of Rs. 21,670 Crores, the shares of Cyient Limited were trading at Rs. 1,955.20, up 3.20 percent from its previous day’s close price of Rs. 1,894.50.
Cyient Limited has signed a multiyear services agreement with Airbus for Cabin and Cargo Engineering, following this agreement, it will develop a part of Airbus’s cabin ‘Intelligent Core Management Platform’ (iCMP). These systems focus on enabling faster software updates, easy and rapid customization, and proliferation of digital services in Cabin.
Cyient Limited has been working with Airbus, supporting the future-ready Cabins to deliver state-of-the-art services requiring new technologies and significant data flow volumes.
Karthikeyan Natarajan, Executive Director and CEO, Cyient said “We thank Airbus for their confidence in our capabilities and partnering to work on their key future technology development programs.
Cyient is committed to growing this partnership with Airbus to greater heights. We look forward to leveraging our technology expertise to support Airbus in their pursuit of transforming in-flight communication and diagnostics systems,”
Cyient Limited is engaged in the business of providing global technology services and solutions, specializing in geospatial, information technology solutions, engineering design, data analytics, and many more.
Its revenue from operations grew by 32.67 percent from Rs. 4,534 Crores in FY22 to Rs. 6,016 Crores in FY23, accompanied by profits of Rs. 522 Crores to Rs. 514 Crores.
Written by: Bharath K.S
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