IT firm Cyient today posted an 18.7 percent rise in its June quarter net at Rs 87.8 crore from the Rs 74 crore in the year-ago period.
However, the EBIDA margins were down 45 basis points sequentially.
Talking about the Q1 performance and outlook going forward, Krishna Bodanapu, MD & CEO, Cyient said the first quarter is always soft in terms of EBITDA performance because of wage increases in Q1. However, in the June quarter this time the additional pressure was due to exchange rate because the rupee softened against the dollar almost 5 percent.
However, he is confident of margins improving from the second quarter onwards and also confident revenue growth in FY18 being around 10-12 percent.
Talking about order intake, he said 80 percent of that is executable in any given year but the backlog is quite strong and would likely add to that, said Bodanapu in an interview with CNBC-TV18.
The order intake in Q1 also is usually lower but would pick up in Q3 and Q4, he said. The pipeline is very strong and the momentum of order intake of around 10 percent seen in the earlier fiscal will continue going forward as well.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
