5 February 2019 3QFY19 on account of lower T&D; losses and interest cost. Sales in the Kolkata distribution circle declined 2.1% YoY to 2.3BU, given the strong base (increased 12% YoY in 3Q last year). Revenue was flat YoY at INR17.1b. T&D; losses declined 200bp YoY to 9.8%. Power exports stood at 135MU, as against 212MU in the year-ago period. EBITDA, including rate regulatory item, increased 6% YoY to INR4b (in-line). Depreciation was flat YoY at INR1.1b. Finance cost declined 3% YoY/QoQ to INR1.2b.