EBITDA margins expanded ~780 bps QoQ to 32.5%, way above our estimate of 240 bps QoQ expansion and 27.1% estimate mainly due to lower than advertising & promotion expenses (down 21.3% QoQ at 14.5% of revenue vs. our estimate of 20% of revenue). Lowerthan-expected losses in other businesses (-| 3.4 crore vs -| 12 crore in Q4FY18) was also one of the parameters for margin expansion PAT came in at | 63.0 crore. There was an exceptional item of | 16 crore (owing to diminution in carrying value of investment in startup investment). Adjusting for this, PAT was at | 79.0 crore, better than...