Global Services buy not to add much to Cyient profits: IIFL

Engineering services firm Cyient recently acquired Singapore-based Global Services Engineering Asia. Sandeep Muthangi of IIFL says the acquisition will not add much to Cyient's bottomline. Muthangi told CNBC-TV18 that the acquisition will help Cyient expand its service base to after-market engineering, which is a USD 10 billion market.  

However, financially, it won’t be significant as the acquisition will contribute just 2-3 percent to Cyient's profits.

Scale up in revenues will be moderate in comparison to previous year’s USD 10-12 million, Muthangi said.