ZENT's 3.3% QoQ growth was in line with expectations. However, CC revenue growth was 1% v/s estimate of 1.9%, while tailwinds from cross-currency were stronger. 7% QoQ growth in Applications was partly offset by a 15% sequential decline in IMS. Digital continued exhibiting strength, growing at 8% QoQ. It now constitutes 41% of total revenue. Revenue in the US grew 3% YoY in FY18. However, in 4Q, its YoY growth was 10.8% YoY ??? a clear indication of momentum pick-up.