NIIT Tech reported revenue growth of 5.3% QoQ in dollar terms, ahead of our estimate of 4.3% QoQ. Similarly EBITDA margins at ~18% was also ahead of our estimates. Growth across verticals and benefits of continued large deals signed at the beginning of the year and during the quarter will power the revenue growth in FY19E. The improvement in margins was on account of growth across verticals and implementation of automation platform for delivery. PAT increased by 66.6% YoY to Rs.1.1bn. Management has guided for a strong FY19 and expects organic CC...