Following two successive quarters of strong growth, Sonata delivered another good quarter in IITS revenue, which rose by 2.7% QoQ in USD terms. This growth comes on top of 11.3% QoQ and 6.5% QoQ growth in 2QFY18 and 1QFY18, respectively. On YoY basis, IITS revenue (in USD terms) rose by a strong 23.4% marking the fastest growth since 2QFY15 led by focus on platforms and IP-led solutions (platformation). Focus on consumer-centric verticals which require high investment in digital initiatives continues to remain the key tailwind. Notably, 15.2% of Sonata's 3QFY18 revenue was IP-led (vs. 15% in 2QFY18 and 14% in 1QFY18). We expect focus on its...