Soften Operating Performance Due to Macro Environment Headwinds: Muted revenue growth & margins declined by 60bps: FSL reported revenue ofRs. 8854 mn in Q3FY17 which is up by 0.1% QoQ and 8.2% YoY. EBITDA in Q3FY17 is lower by 4.8% QoQ at Rs.1072 Mn which was at Rs. 1126 Mn in Q2FY17 and the margins dropped to 12.1% which is down by 62 bps QoQ and 27 bps YoY. Thissluggish movement and ramp down in margins mainly due to currency headwinds, weakness in mortgage business, and lower volumes from two of the company's telecom clients.