ICICI Securities Ltd | Retail Equity Research Revenues de-grew 26% YoY (down 14% QoQ) to | 130 crore (I-direct estimate: | 180 crore) compared to | 176.7 crore in Q4FY16 and | 152 crore in Q3FY17. Revenues continue to stay impacted with Kolkata port scaling down its dredging expenses On account of a deceleration in execution, operating expenses degrew 31% YoY. Also employee expenses de-grew 49%. The resultant EBITDA grew 25% YoY (down 9% QoQ) to | 36.5 crore (I-direct estimate: | 52.7 crore). Following this, EBITDA margins were at 28%...