Whilst J Kumar Infraprojects (JKIL) 1QFY16 revenue was subpar (4.7% below estimates), EBITDA & Net profit were 1.8% & 10.7% ahead of expectations. EBIDTA margins expanded 50bps/166bps on YoY/QoQ basis, largely driven by lower employee costs (29bps contraction YoY) and lower other expenses (172bps contraction YoY), which compensated for increase in material costs (151bps expansion YoY).