Majesco Limited (Majesco) announced another soft quarter in 4QFY17, with revenue declining 6.2% QoQ to US$28.2mn, while profitability was better than expected, with EBITDA margin up 114bps QoQ to 6.8%, aided by cost control. In INR terms, revenue declined 7.1% QoQ to Rs1.9bn. Revenue pressure was owing to some client engagements moving from implementation mode to support mode, and these programs have been replaced by cloud-related projects, which typically earn lower implementation revenue. FY17 has been an underwhelming year for Majesco, with USD revenue up just 7.5% YoY to US$121.8mn, against initial expectations of healthy double-digit revenue growth....