Asian Granito (AGIL) reported subdued set of Q3FY18 result, as Net Revenue increased by 6.4%, while Net profit declined by 9.9%. The volume growth in tile business was 25% yoy, quartz division was up 37%; however, its marble segment reported degrowth of 37% yoy. Nonetheless, the reduction of GST rate on tiles and marble from 28% to 18% is positive for the entire ceramic industry.