(FSL) are not strictly comparable on QoQ basis as the company divested some of its domestic businesses during Q1FY2018. During Q2FY18, FSL reported another quarter of better-thanexpected operating performance against our modest estimates for Q2FY2018. Operating profit margin (OPM) improved by 110BPS QoQ (ahead of our estimates) despite Rs 3.5 crore (one-off) shutdown costs relating to domestic...