TCS posted a 3.7% sequential growth in USD revenues to US$4,362mn for 1QFY2017 (V/s US$4,375mn expected), which was mostly volume led (3.4% qoq growth). On constant currency (CC) basis, the revenue growth is of 3.1% qoq. On the operating front, the EBITDA and EBIT margins came in at 26.7% and 25.1%, a dip of ~97bp and ~98bp qoq respective..