Our $ revenue for the quarter stood at $150.54 Million, a Q-o-Q growth of 0.2% and Y-o-Y growth of 12%. In Rs. terms, revenue grew by 4.9% Q-o-Q and 16.5% Y-o-Y to Rs. 10,138.4 Million.
Amongst SBUs, there was a significant 5.5% Q-o-Q growth in PES SBU while IES and DT SBU grew by 2.7% and 2.2% respectively. In SAP SBU there was sequential decline of 3.5% while P&P SBU declined by 39.6% during the quarter. We expect the softness in SAP SBU to continue for another quarter and expect growth to be back in H2 for SAP.
Amongst geographies, there was a Q-o-Q growth of 2.8% in US whereas Europe and APAC declined by 3.4% and 4.4% respectively. There was a negative impact of cross currency rates on the USD reported revenues of Europe geography. In constant currency terms, the geography was flattish as compared to last quarter.
In terms of industry verticals, there was a sequential growth of 3.3% in manufacturing and Energy & Utilities vertical respectively while Automotive vertical saw a Q-o-Q growth of 2% during the quarter.
The 20 top strategic accounts constituted 52.5% of the total revenues and grew by 1.7%. Similarly, the 40 top strategic accounts constituted 65.1% of the revenues and had a Q-o-Q growth of 3.4%.
*All the revenue growth numbers mentioned under revenue update are in equivalent $ terms.
The realized rate for the quarter was Rs. 67.35/$ against Rs. 64.35/$ in Q4 FY18.
The operating margins for the quarter were 13.3% as against the reported margins of 12.1%, the delta being the ongoing merger-demerger transaction expenses. The services growth during the quarter was led by onsite revenues, even in engineering. We also hired 381 fresh graduates during the quarter resulting in a temporary drop in offshore utilization, during the quarter. We will see the same picking up in the coming quarters. The rupee depreciation helped negate the cost impact of freshers hired during the quarter.