Revenues for Q2FY19 grew 19% YoY to | 1526 crore (I-direct estimate: | 1349 crore). UBL recorded strong volume growth of 17% vs. industry growth of 11% (I-direct estimate: 5%). The growth was also favourable due to continued channel filling in UP due to changes in route to market (RTM) in the state, which led to granting of large number of new wholesale licenses. UBL saw good growth in all key states except Mumbai and West Bengal owing to high consumer prices EBITDA margins increased 351 bps YoY o 20.9% (I-direct estimate:...