Margins expand; Improvement in US business remains key TRP reported sales of INR14.3b (+4.5% YoY; ~5% miss) in 3QFY18. The miss on revenue can be attributed to a decline in the US and Brazilian businesses. India business grew 22% YoY to INR6.1b (~23% growth adj. for GST). EBITDA increased 14% YoY to INR3.53b (est. of INR3.62b). Margin expanded ~195bp YoY (+130bp QoQ), primarily due to a favorable product mix toward higher-margin branded products. PAT declined 72% YoY to INR580m, mainly due to a one-time impact of the Unichem acquisition and the re-measurement of deferred tax on account...