aided by sharp increase in treasury income. Revenue growth of 0.9% QoQ, including +50bps benefit of cross currency, was also higher than our forecast. However, EBIT margin of 12%, 160bps QoQ, missed our forecast impacted by higher than expected QoQ decline in Comviva's business (on account of seasonality). In Q1FY17, TECHM secured new deals with TCV of ~US$300mn following ~US$1.3bn worth deals secured in FY16. The no. of US$20m+ clients increased by 2 QoQ to 42 vs. 36 in Q1FY16....