Persistent Systems (Persistent) has reported healthy growth in revenue in 3QFY17, with IP revenue (+6.9% qoq) and revenue from top client IBM (+8.7%) clocking excellent growth following a decline in 2QFY17. Its revenue from IBM so far in 9MFY17 is well in-line with its expectations of a US$50mn incremental revenue contribution in FY17E. Expectations of 2HFY17E being stronger on both IP & IBM sides are on track, with key growth drivers Enterprise (+9.5% qoq) & Digital (+16.3%) both maintaining healthy growth in 3QFY17. A negative factor was lower-than-expected margin expansion...