HCL Tech delivered strong revenue growth ( 3.8% QoQ CC), in-line with expectations, and a steady operating performance (20% EBIT%). The co absorbed the acquisition impact (Butler and Geometric) with higher efficiencies (utilisation increase of 110bps). HCLTs guidance implies 2.1-2.9% CQGR in FY18E, led by Digital services and Products & platform (18.6% of revenue).