Consol. revenue fell 4% YoY to INR5.6b (5% miss), mainly due to a 9% YoY decline in circulation revenue, partly offset by ad revenue growth. Yet, consol. EBITDA of INR805m grew 10% YoY (11% miss), driven by a 12% YoY decline in SGA expenses. This, coupled with a surge in other income (+73% YoY), provided impetus to PAT (+193% YoY to INR750m). Ad revenue grew marginally by 2% YoY to INR4.2b. For FY18, revenue declined 4% YoY to INR23.4b (1% miss), EBITDA grew 34% to INR4b (3% miss) and PAT increased 80% YoY to INR3.1b (12% beat)