CYL's Q3FY20 revenue was in-line with our forecast, however, EBIT margin and EPS were a beat. Consolidated revenue of US$155.2 mn declined by 5.5% QoQ mainly on account of sharp decline in DLM (US$15.1 mn vs. US$23.8 mn in Q2FY20). Services business (90.3% of revenue) saw a 0.5% QoQ decline in CC. Consolidated EBIT margin remained unchanged QoQ at 9.6% vs. our forecast of ~50bps QoQ decline. EPS of...