NIITT had exposure to airlines that accounted for ~13% of overall revenues in Q4FY20, which has dropped to 5% in the current quarter. This was the primary reason for the sharp fall in revenues. However, going forward, the company believes airline revenues have bottomed out. It is expected to remain at these levels in the near term. Further, rail, logistics, hospitality and airports in the travel vertical were stable and are expected remain stable. In addition, we expect banking, insurance and healthcare verticals to register improving growth (as seen in this quarter) on the back of large deal wins....