However, the silver lining was a 7.9% growth in the US business, which contributed 44% to the revenues during the quarter.
The banking, financial services and insurance segment (BFSI) too expanded 8.2% sequentially, comprising 35% of revenues.
The company also secured its single-largest deal in the reporting quarter - a 10-year BFSI contract valued at
The US and BFSI gains follow the appointment of ex-
Experts said Chaturvedi's rich experience in handling global sales and delivery in BFSI segment for
However, revenues from
Among other segments, travel & transportation grew 2.3% sequentially, accounting for 38% of total revenues, while manufacturing/distribution and government contributed 7% and 6%, respectively.
New service lines revenues - including social, mobile, analytics and cloud grew 24% -- up from 20% in Q2, and Thakur expects it to reach 25% in the fourth quarter.
Consolidated revenues rose 14.2% to
However, note that this is on account of lower hardware revenues (
Thakur said domestic business is challenging, as "payments are linked to milestones, which puts more receivables (or outstanding payment) on our books, which hurts margins."
However, he believes Q4 will see better domestic growth.
Most Popular Stories
- Obama, Ukraine Discuss Russian Incursion in Crimea
- Chinese May Have Spotted Malaysia Airlines Debris
- Social Media Causee Sleep Deprivation in Students
- First-time Jobless Claims Drop Unexpectedly
- Banks Buying Little From Minority Firms: Study
- General Electric Plans IPO of Credit Card Unit
- 'Candy Crush' Maker Files IPO
- SXSW Crash Kills 2, Injures 23
- First-time U.S. Jobless Claims Hit 3-month Low
- U.S. Business Inventories Up, Retail Sales Down