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Tech Mahindra joined larger peers in reporting better than expected performance for the quarter ended December 2017. The company reported 2.5 per cent sequential growth in dollar revenue to $1.2 billion. In addition to business growth, cross-currency tailwinds boosted the top line. The growth was led largely by the enterprise segment which grew 4.2 per cent and the North American region, 47 per cent of revenue and which grew 6.2 per cent. Within the enterprise segment, technology, media and entertainment was the outlier, with growth of 12.9 per cent. The business process outsourcing segment also saw good growth of 20 per cent, with better execution, leveraging of technology and automation. Its largest vertical, telecom, 45 per cent of revenue, continued to lag overall company growth, with improvement of only 0.4 per cent. In fact, growth in the past eight quarters on a cumulative basis has been a negative 0.5 per cent. Revenue from the segment has been stagnant in a narrow band of ...