new delhi jul 14 it firm cyient formerly known as infotech enterprises today reported 22 per cent decline in net profit at rs 739 crore for the quarter ended june 30 2016 the hyderabadbased company had posted a net profit of rs 756 crore in apriljune quarter of 201516 fiscal it said in a statement however revenue of the company grew 145 per cent to rs 8305 crore in the quarter under review as against rs 7258 crore in the yearago period in dollar terms cyients net profit declined 72 per cent yearonyear to usd 11 million while revenue rose 87 per cent to usd 124 million in the said quarter financial performance in q1 fy17 is in line with our expectation both on the top line and the bottom line the services business grew 54 per cent in dollar terms driven by growth in aerospace and defense transportation and communications business units bu cyient managing director and chief executive officer krishna bodanapu said all bus witnessed growth through the quarter except utilities and geospatial and designled manufacturing dlm he added in dlm we faced headwinds due to the cyclicality of the business however with strong order backlog and pipeline we expect stronger revenue from dlm in the second half of the year and continue to be confident of 50 per cent yoy revenue growth in fy17 he said bodanapu said the company implemented wage hikes this quarter which had an impact on its margins but the headwinds were offset by improved quality of onsite revenue and operational efficiency looking ahead q2 looks healthy for continued growth despite adverse foreign exchange impact in the short term with a healthy pipeline and continued ramp up in new customers across business units we expect to deliver a strong q2 consequently we will deliver double digit earnings growth for the year he added the company saw a strong cash generation of rs 815 crore in services taking the overall cash balance to rs 8025 crore it witnessed 5 per cent growth in aerospace in dollar terms as well as in transportation 9 per cent medical and healthcare 16 per cent and communication 13 per cent in the said quarter in terms of geography apac posted a robust growth of 21 per cent quarteronquarter in dollar terms while americas rose 7 per cent it added 22 customers during the quarter at the end of the june quarter cyient had 12965 employees sr gdk ars prb bal abm