TEAMs 3QFY19 Revenue at INR11.7b grew by 28% YoY (exp. of +22% YoY); EBITDA at INR245m grew by 37% YoY (exp. of +44% YoY); PAT at INR255m grew by 39% YoY (exp. of +46% YoY) General staffing associates grew by 7,548 QoQ, +5.2% QoQ and 16.6% YoY to 29 January 2019 152,693, above our estimate of 5,000 additions QoQ. Specialized staffing saw in uptick of 52 associates QoQ to 6,117 (+3.5% YoY), and in line with our estimate of 6,100. at 2.1% declined 10bp sequentially, below our estimate of 2.3%. However, EBITDA margin in General staffing came in line with our estimate of 2.1%, whereas the disappointment was led by specialized staffing, where EBITDA margin was 5.6% (-170bp QoQ) v/s estimate of 7.