3QFY18 revenue fell 11% YoY to INR39.8b (est. of INR40b). Gross margin shrunk 600bp YoY (-240bp QoQ) to 65%. EBITDA fell ~22% YoY to INR6.9b(est. of INR8.8b), with the margin contracting ~1,000bp YoY (-430bp QoQ) to ~17.3%. 3QFY18 EBITDA included a forex loss of ~INR821m v/s a gain of INR571m in 2Q and a gain of INR276m in 3QFY17. PAT fell 65% YoY to INR2.2b (est. of INR4.3b)