Protean’s Q3 results were not bad at all; all the verticals registered healthy and robust growth; the write-offs were huge and unexpected; it was a negative surprise for the market; receivables turned into write offs and the company said they were hopeful but indulged in the exercise to be on safe side; also, they revealed that contingency liabilities might appear in Q4 also and the market did not like this; there was a credit loss item; plus expenses involved in talent acquisition plus start up expenses in 4 other markets where they set up office; on the positive side, in several third world countries, they are shortlisted for identity services as they do in India; i am expecting a positive kind of result this time; if they continue to show receivables in a big way which may turn into liabilities for one or two quarters, the pain might continue for another 3 months; all in all, the stock has bottomed out at around 1000 and is trying to bounce back; i am sure by the end of April, it will stabilize around 1200 if not more
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