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    Cyient says rupee weakness to aid margin improvement

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    Cyient says rupee weakness to aid margin improvement

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    Hyderabad-based firm, Cyient Ltd, on Tuesday said that rupee weakness is aiding margins and profitability for the company.

    Hyderabad-based firm, Cyient Ltd, on Tuesday said that rupee weakness is aiding margins and profitability for the company.
    In an interview to CNBC-TV18, Ajay Aggarwal, president and chief financial officer, said, "Margins in the quarter gone by were impacted because of wage hikes and some one-off expenses and also a muted growth. Going forward, the company is in-line with double-digit growth in services business."
    "Overall, the guidance has been that the company is investing around one percent of revenues into investment in new business, Accelerator, and margins would remain flat," Aggarwal said.
    With regards to North American business, Aggarwal said things are looking good and similarly for the aerospace business, which was sluggish last year. Europe too is showing good traction.
    Communications business is doing well but may not top previous highs. Meanwhile, services business contributed 90 percent to the topline, he added.
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