Premise: First of all, 2017 had the overhang of the demonetisation that had taken place at the end of last year. The first quarter was a bit slow. However, around April we were done with the impact of demonetisation. But towards the middle of the year, we were again hit by the GST slowdown. So, the first eight months from an advertising perspective were quite slow and the growth was pretty muted. It was with the festive season that the pickup really started and it was around the months of September-October that things started looking up for the industry. Looking back, the year has turned ...
Hypothesis: Things looked up before September.