Cyient reported a strong performance in the December quarter with revenue growth at 12.7 percent compared to the September period. The EBIT margin expanded to 13.2 percent from 10.1 percent. Order intake in the services business grew 83 percent quarter-on-quarter to USD 237.1 million.

The company also won five large deals in services with a total contract potential of USD 59.2 million. The overall pipeline for the year is 1.5 times higher than last year with large deals accounting for 70 percent of the pipeline.

Krishna Bodanapu, MD and CEO of the company appeared on CNBC-TV18 to discuss the company's Q3FY23 earnings and the state of the aerospace industry. According to Bodanapu, a large part of the business is coming back, and they expect to see a meaningful acceleration in demand. He also mentioned that they anticipate an uptick in military spending on the defence side, which will contribute to a meaningful acceleration of Q3 revenue growth.

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“Aerospace industry, which is a large part of our business, is coming back quite strongly because of various dynamics that are involved there, including air traffic on the civilian side, military spend on the defense side and so on,” he said.

Bodanapu expressed confidence in the company's ability to achieve midsize average growth within the next year. This is a positive outlook for the industry, as the aerospace sector has been impacted by the COVID-19 pandemic and the resulting economic downturn. However, with the industry showing signs of recovery, companies like Cyient are well-positioned to capitalize on the growth opportunities that lie ahead.

Overall, Bodanapu's comments paint a positive picture of the aerospace industry, and they indicate that companies in this sector are optimistic about the future. As the industry continues to recover, it will be important for companies like Cyient to stay nimble and adapt to changing market conditions in order to capitalize on the growth opportunities that lie ahead.

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