Karthikeyan Natarajan has resigned as Executive Director and Chief Executive Officer of Cyient. Informing the development to the Bombay Stock Exchange, the company, however, has not cited any reason for his resignation.
Karthikeyan, who had over 30 years of experience in various leadership roles in IT companies, was appointed as the ED and CEO in a major leadership announced by the company in April 2023.
Meanwhile, Cyient DET’s net profit witnessed a decline of 28.3 per cent at ₹124 crore on a revenue of ₹1,489 crore, which fell by 0.8 per cent in the third quarter ended December 31, 2024.
Commenting on the results, Krishna Bodanapu, Executive Vice Chairman and Managing Director, said, “Cyient Group witnessed positive Q3 FY25 results, with quarterly group revenue at $228 million, showing a growth of 4.5 per cent year on year in constant currency.”
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“Our semiconductor business continues to witness excellent traction. We have expanded our partnership with Allegro Microsystems and established a Center of Excellence (CoE) at our Manikonda campus where we will develop next-generation magnetic sensors and power semiconductor products for the automotive industry,” he said.
“We have secured approval from our Board of Directors to explore additional capital raise options for our recently announced semiconductor subsidiary,” he added.
The company inducted Debjani Ghosh, a distinguished fellow at NITI Aayog and former president of NASSCOM, as an independent director on the board.
