Muted growth and tepid margins impact performance; Maintain SELL WPRO reported USD revenue growth of 2.4% QoQ (CC growth of 1.1% QoQ). EBIT margin for IT services declined 40bps QoQ at 14.4% due to one-time impact of insolvency of a customer & impairment loss booked for one of its acquisitions. Adjusting the same, IT Services Margin improved 120bps QoQ at 16%. Consolidated EBIT margin declined 70bps QoQ to 13.7% due to higher cost of revenue and depreciation. Concerns persist in Communication vertical; which will lead to limited scope for the revenue...