Revenue grew 3.2% YoY to INR6,251m (est. of INR6,392m) in 4QFY18. EBITDA declined 12% YoY to INR1,347m (est. of INR1,553m), with the margin contracting 390bp YoY to 21.5% (est. of 24.3%). Adj. PAT fell 22% YoY to INR1,054m (est. of INR1,156m) due to a higher tax rate (19.3% v/s -4% in 4QFY17). For FY18, revenue remained flattish at INR22,771m, EBITDA margin contracted 260bp to 21.7% and adj. PAT declined 20% to INR3,676m.