Competitive PressuresCompetition in India is a significant factor holding back margins and impacting earnings per share.
Geopolitical VolatilityThe challenge in the near term is geopolitical volatility, which is increasing uncertainty, and while it has not yet affected management's assessment of demand, there is risk as clients may not spend.
Profitability ChallengesProfitability, including both gross and operating margins, is underperforming expectations.