Consol. revenue grew 33.9% YoY to ~INR25.3b (est. of INR24.8b), with EBITDA growth of 36% YoY to INR8b (est. of INR8.2b). Exceptional it empertains to a loss from discontinuing operations (Eicher Polaris) of INR1.9b.Higher tax resulted in below-estimated adj. PAT of INR6.5b (+39% YoY). RE's net realization improved 4.9% QoQ (+8.7% YoY) to ~INR115k (est. ofINR113.3k). EBITDA margin expanded ~60bp QoQ (90bp YoY) to 32.3% (est.of 32%) due to operating leverage. Adj. PAT was flat YoY at INR4.1b (est. ofINR5.2b).