execution of electronic voting machines (EVM)/ Voter verifiable paper audit 31 January 2019 INR4.9b), which includes custom duty reversal of INR0.5b and adjusting for it, EBIDTA stood at INR7.2b (+61% YoY), while reported net profit increased 68% YoY to INR5.1b. Other income declined to INR176m from INR492m in 3QFY18 due to lower cash balance (INR4.5b) with the company. For 9MFY19, sales/EBIDTA/PAT grew by 22%/61%/50% on YoY basis. Gross margin during the quarter improved 1,003bp YoY to 53.8%, supported by execution of service contracts worth INR800m. EBIDTA margin stood at 28.3% (+1,050bp) which includes custom duty reversal of INR0.5b; excluding this EBIDTA margin would stand at 26.4% (870bp YoY).