Revenues +21% YoY and +4 % QoQ. Revenue perhaps a little bit weak due to business volume impact in India and Middle East in 1Q22.
Revenue from Indian business declined by 28% YoY and 32% QoQ mainly due to DLT issue faced by enterprises and second wave of covid.
Company also had a reduction in banking traffic as there were allegations of data breach which was unfounded. 3rd party audit found no breaches and banking traffic is resuming to normalcy. However this impacted April 2021 banking revenues.
EBIDTA margin contracted by 10 bps YoY & 169 bps QoQ to 12.1%
Reported PAT grew by 27.5% YoY however declined by 3.1% QoQ
