Persistent Systems (Persistent) has posted an encouraging performance on the revenue front in 1QFY17, with its top client IBM and overall top-10 clients reporting strong 19.1% & 10.8% sequential growth, respectively. Revenue mix-wise, all 3 verticals ISV, Enterprise & IP grew by healthy 3.4% qoq, 5.9% qoq & 4.3% qoq, respectively depicting a key positive trend. Aided by operating leverage, EBITDA margin saw moderate 37 bps sequential expansion under restated Ind-AS numbers, while EBIT margin declined by 60 bps qoq owing to higher amortisation...