3QFY19 USD revenues grew 16% YoY to USD135m (in line), EBITDA grew 39% YoY to INR1,805m (estimate of 37% growth) and PAT grew 32% YoY to INR1,002m (estimate of 46% growth). Constant currency (CC) revenue growth was 4.2% QoQ (in line). EBITDA 19 January 2019 margin expanded 60bp QoQ to 18.3%, marginally above our estimate of 30bp. Growth was driven by Insurance (+10.8% QoQ) and Travel (+7.1% QoQ), and BFS was only relatively slower (+3.1% QoQ). Digital grew by 7% QoQ and 34% YoY, and now contributes 29% to total revenue. Order intake was at USD165m, taking the 12- month executable order book to USD375m. This was the sixth consecutive quarter of improvement in deal wins QoQ. In line with the recent trend, the US dominated deal wins during the quarter, with USD96m TCV. LTM book-to- bill inched up further to 1.