LTTS reported a 4.2% QoQ CC growth in 3Q, 100bp below our estimate due to softer Industrial Products (+0.7% QoQ) and Medical Devices (+1.5% QoQ) on a high base of 2QFY22. Operating leverage aided the 20bp QoQ improvement in EBIT margin to 18.6% (In line), despite adding a record 2,135 net employees (+12%), lower utilization (-220bp) and on-site mix (+50bp). It reported an attrition of 17.5% (+100bp QoQ). USD revenue/INR EBIT/INR PAT grew 20%/59%/48% YoY in 9MFY22. The management maintained its 19-20% USD revenue growth guidance. It...