However, EBITDA grew 11.9% YoY to | 93.6 crore. This was due to higher gross margins of 40.6% in Q1FY18 from 36.9% in Q1FY17. Higher gross margins were on account of higher realisations / better product-mix. Decline in revenue from low margin traded goods' (13% YoY) also contributed to higher gross margins Accordingly, EBITDA margins came in at 14% in Q1FY18 vs. 12.8% in Q1FY17. We estimated EBITDA margins of 12.9% for the quarter. PAT came in at | 64.3 crore, up 6.4% YoY primarily due to decline in...