New Delhi, Nov. 5 -- Electronics manufacturer Kaynes Technology has pushed back its target of turning net cash positive to the end of the current fiscal year, after missing its guidance given last quarter to generate free cash flow by the end of September. Bengaluru-based Kaynes, which declared its second-quarter earnings on Tuesday, reported a 35% sequential jump in revenue to Rs.906 crore, while net profit after tax jumped 61% sequentially to Rs.121 crore.

However, the company spent more than what its business generated, leading to a negative cash flow of Rs.218 crore. The management had stated last quarter that it would achieve cash-flow positivity by the September quarter.

Despite the strong profit growth, Kaynes spent more than its...