reported a 7.9% decline in its total sales (including operating income) to Rs.3, 952 crore (lower than our expectation of Rs.4, 167 crore) for 2QFY2018. Operating profit declined by 17% to Rs.853.1 crore (marginally lower than our expectation of Rs.865 crore) and adjusted profit declined by 31.2% to Rs.455.1 crore (above our expectation of Rs.425 crore). Performance...