On a reported basis,revenue increased 5.9% YoY to INR24.3b (est. of INR28.1b) . Muted revenue growth can be attributed to a weak performance in the power & gas (- 14%YoY), mobility (- 30% YoY) and process industries and drives (- 27% YoY)segments. EBIDTA improved 17% YoY to INR2.7b, with the margin at 11.2%(+100bp YoY; est. of 10.4%). Adjusted net profit from operations increased18.6% YoY to INR1.9b, below our estimate of INR2.1b.