Cyient, Thingtrax sign pact

Global engineering and technology solutions company Cyient Ltd. has entered into a partnership with Thingtrax to improve efficiency and cut costs for manufacturers. The technology solutions provider announced on Tuesday that it has partnered with Thingtrax in order to help manufacturers reduce costs and increase efficiency.

With the help of artificial intelligence-led data, the Cyient-Thingtrax partnership will enable manufacturers globally to improve their performance throughout the entire range of manufacturing operations.

Cyient’s end-to-end manufacturing services suite and the Thingtrax solution allow manufacturing leaders to improve operational efficiency by engaging people at every level to embrace a high-performance culture.

In the December quarter, Cyient reported a strong performance with revenue growth at 12.7 percent compared to the September period, while the EBITDA margin expanded to 13.2 percent from 10.1 percent quarter-on-quarter.

Its order intake in the services business grew 83 percent quarter-on-quarter to $237.1 million.

He also mentioned that they anticipate an uptick in military spending on the defence side, which will contribute to a meaningful acceleration of the December quarter revenue growth. CNBCTV18