Drop in revenue; Margins recovered by 414 bps QoQ: SQS recorded revenue of Rs. 575 Mn in Q4FY17 with a drop of 5.6% QoQ. However, EBITDA margins are at 20.3% which is up by by 414 bps QoQ. For the whole year, the company recordedrevenue of Rs. 2600 Mn which is down by 1.6% YoY. The company has witnessed many challenges over the year FY17 starting with Brexit which was unexpected and thus has an impact on depreciation of British Pound which took significant hit to ~ 25% of business from UK during the year.