Net operating income for the quarter stood at INR14.2b (est. Gross margins stood at INR10.7/scm v/s INR11.1/scm in 2QFY18 and INR10.8/scm in 2QFY19. IGL reported EBITDA of INR3.1b (est. INR3.2b, +9% YoY, +4% QoQ), marginally below our estimate.