Revenues in the quarter were impacted by the Covid-19 pandemic. The company has indicated at supply side issues and client specific challenges impacting Q4FY20 revenues. In the near term, FSL expects pressure in healthcare business (due to lower elective surgeries & pricing pressure), challenges in top client (due to slowdown in UK economy) and seasonality in collections. Hence, we expect revenues to decline 10% QoQ in Q1FY21E with margins falling 200 bps. Going forward, we expect a gradual recovery in the collection business (led by higher origination business and higher...