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Cyient maintains double-digit growth guidance for services business

Updated : November 28, 2018 18:55:34 IST

Engineering solutions company, Cyient, on Wednesday said the company maintained double-digit growth guidance for services business.

In an interview to CNBC-TV18, Ajay Aggarwal, president and chief financial officer, said there are possible tailwinds for Cyient's margin improvement, but it may flatten out on account of rupee appreciation from lows.

Aggarwal said Cyient will see a flat margin if rupee is at $70 and if it stays between $70-72, margin will improve by 50 bps. One basis point is a hundredth of a percentage point.

“Communication is likely to grow at double digit, but will be a little muted in the current quarter,” he added.

Talking on defence projects, Aggarwal said it has a huge potential, but has higher gestation period.
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