Vedanta reported a subdued set of Q1FY18 numbers wherein EBITDA and PAT were below our estimates Gross income from operations were at | 19342 crore. After adjusting for excise duty, net operating income was at | 18285 crore (up 26.7% YoY, down 18.8% QoQ, our estimate: | 18648 crore) EBITDA came in at | 4874 crore (up 39% YoY, down 33.7% QoQ), lower than our estimate of | 5603 crore. Resultant EBITDA margin came in at 26.7% below our estimate of 30.1% (Q4FY17: 32.5% and...