Additionally, we expect a higher emphasis on annuity revenue to address the performance The companys robust performance in 4Q (barring IP), healthy deal pipeline, and cautiously optimistic outlook indicate the near term COVID-19 disruption would not be as bad as we initially anticipated. Over the medium term, Persistent should be a key beneficiary of the COVID-19- led increase in uptake in digital services, given its high exposure to salesforce consulting and verticals such as Technology, Healthcare, and BFSI. In 4QFY20, revenue (USD) / EBIT (INR) / PAT increased 7%/-4%/-1% YoY v/s our Technology Services Unit (TSU) reported strong growth of 4.2% QoQ despite the disruption from COVID-19 during the quarter. In 4QFY20, revenue (USD) / EBIT (INR) / PAT increased 7%/-4%/-1% YoY v/s our Technology Services Unit (TSU) reported strong growth of 4.2% QoQ despite the disruption from COVID-19 during the quarter.