2QFY20 revenue at INR12.7b grew 16.2% YoY (v/s est. 23.5%) while EBITDA at INR245m grew 2% YoY (v/s est. PAT at INR202m declined 20.1% YoY (v/s est. 10 November 2019 General staffing associates grew by 4,415 QoQ (14% YoY) to 165,029, below our est. Specialized staffing saw a decline of 309 associates QoQ to 6,549 (+8% YoY), below our est. The decline in specialized staffing headcount was led by reduction in Telecom sub-segment associates from ~3,700 to 3,500.Revenue from Other HR services declined 25% YoY due to planned reduction in exposure to government mandates.