Strong Core Business & Good 4Q Outlook Key Positives Cyient has reported a healthy revenue performance in 3QFY18. Its USD revenue from core services grew by 4.2% QoQ (4.4% in CC terms) owing to impressive performances in some key verticals including Aerospace & Defense (4.2% QoQ), Transportation (+8.8%), Industrial, Energy & Natural Resources (+4.2%) and Utilities & Geospatial (+8.7%). However, total revenue grew by a subdued 1.3% QoQ to US$152mn owing to a steep revenue decline in DLM business (-23.2% QoQ in USD terms) owing to pushing out of an order to 4Q. Within the core services business, ENGG clocked a strong 4.1% QoQ growth in revenue, while DNO grew by a healthy...