Maintain BUY with TP of Rs 970, 20x FY20E. Mindtree posted robust revenue growth and in-line profitability. Revenue came at USD 226mn, 5.5% QoQ led by digital (45% of rev) growth at 8.3% QoQ. EBITDA% stood at 16.1%, +103bps QoQ supported by operational efficiencies (+30bps impact). APAT stood at Rs1.70bn, adjusted for write-back of earn-out from prior acquisitions (Rs0.13bn).