Revenues at | 561.2 crore (down 4.1% YoY) were below our estimate of | 592.3 crore. Hindi ad revenue declined 14.6% YoY, which was attributed to heavy base of UP election as well as continued muted spend from categories such as auto, medical & health, FMCG, consumer durables. English ad revenue improved handsomely by 15.1%YoY on a low base (~22% decline in base quarter). The radio performance was disappointing as it reported ~2% YoY revenue growth vs. our expectation of 8% YoY growth. Digital business...