23 July 2019 from continuing operations (excluding GIS) stood at 4% QoQ CC (our consecutive quarter of an uptick in deals TCV at USD175m (v/s USD170m in 4QFY19 and USD151m in 1QFY19). EBIT margin shrank 150bp QoQ (+70bp YoY) to 12.8% (100bp miss), largely as wage hikes become fully effective for NITEC in the first quarter. Adj. PAT grew 22% YoY (-8% QoQ) to INR1.0b (in-line). Digital revenue grew 12% QoQ (+46% YoY), accounting for 34% of revenue. In terms of verticals, growth (QoQ CC) was broad-based, with Transportation up 5.9%, Insurance up 6.6%, BFS up 2.8%, and others up 1.5%. BFS was relatively soft due to spending cuts in one of the top-5 clients in the Capital Markets segment. NITEC has not lost any wallet share within the client. There are no other client-specific issues within the top-20 customers as of now.