Management attributed ~150 bp of this decline to the COVID-19 crisis, with equal impact witnessed in terms of disruption on the supply side (in BPS) and demand Weakness in Comviva and reduced volumes due to some large deals transitioning to the steady state are other factors attributed to the poor Barring BFSI among the verticals and APAC among the geographies, other segments reported sharp revenue decline. Given the higher client concentration, especially within the Communications segment, we expect more intense pricing pressure in the Beyond the near term (three to six months), we expect a large number of enterprise clients to ramp-up their digital spends as social distancing norms globally accelerate the shift into the digital space. Management witnessed in terms of disruption on the supply side (in BPS) and demand side (in segments reported sharp revenue decline.