31 July 2018 revenue increased 11.8% YoY to INR25,285m (est. EBITDA grew 26.3% YoY to INR2,139m (est. INR2,019m), with the margin expanding 100bp YoY to 8.5% (est. Adj. PAT of INR902m (+24.2% YoY) was below our estimate of INR973m, primarily on account of higher-than-anticipated interest cost (INR644m v/s est. of INR410m) and lower-than-anticipated other income (INR88m v/s est. multiple levers in 1QFY19, which collectively aided in an improved operational performance.