declined 15% QoQ due to lower volumes. Margins declined 2.2pp QoQ due to cost push in form of higher P&F; cost. Hence EBITDA at INR 1.76b(- 26% QoQ). Interest cost increased 12% QoQ due to increase in debt levels by ~INR3bn in 1HFY18. Hence PAT at INR15mn was below estimate of INR216mn. Margins impacted due to cost push: Standalone margins declined 1.2pp QoQ due to 14% QoQ increase in power and fuel cost led by impact of increase in petcoke prices. Freight cost/t increased 6% QoQ due to change in commercial terms. Reported PAT at INR44mn (vs est of138mn) due to higher interest cost...