Aided by investments in cloud and key initiatives like the IBM partnership, Majesco Limited (Majesco) reported a decent set of numbers for 1QFY19. Its USD revenue grew by 1.8% QoQ (1.9% QoQ in CC terms) to US$33.5mn, which in INR terms rose by 5.9% QoQ to Rs2.29bn. YoY USD revenue rose by a healthy 20.2%. Profitability witnessed robust growth owing to healthy revenue growth, with 74bps QoQ expansion in EBITDA margin to 8.2%. Notably, Majesco's EBITDA margin has surged by a substantial 1,108bps in last 4 quarters. Revenue and earnings continue to see an upswing, in-line with estimates we outlined in our 1QFY18 earnings update. From geographical perspective, North America drove growth with 5% QoQ USD revenue rise....