Consolidated revenue for Q4FY17 de-grew 3% YoY (down 2% QoQ) to | 415 crore (vs. our estimate of | 436 crore). Standalone growth, which was earlier fuelled by e-commerce revenues, de-grew 4% YoY (first time since FY14) to | 122.4 crore. The YoY de-growth of 21% in ecommerce revenues (| 50 crore in Q4FY17) was to an extent moderated by 27% YoY growth in fuel sales (| 57.5 crore in Q4FY17). Revenues from KWE and Kausar continue to remain weak with degrowth of 8%, 13% to | 265 crore, | 10.4 crore, respectively Though there was a decline in revenues, operating and other expenses grew 2% and 6%, respectively, impacting EBITDA, which nearly...