Q3 EBITDA at Rs 68 bn, up 13% YoY, was in line with consensus and our estimates. The YoY rise was mainly due to (a) 30% YoY higher Zinc LME price at USD 3,240 and 43% rise in Zinc International volumes, (b) 40% YoY higher aluminum production at 445 kt and 23% YoY higher aluminium LME price