revenue is up 8.5% YoY to INR38.4b. The overall growth was dragged to some extent by 3% YoY growth in US sales (INR15b) and moderate 6%/8% YoY growth in domestic/PSAI sales to INR6.5b/INR6.8b Inferior product mix and manufacturing overheads impact profitability: Adjusting for the one-time sale of its derma brands, gross margin (GM) declined ~330bp YoY (-90bp QoQ) to 50.2%, primarily due to competition in key products, higher manufacturing overheads, impact of inventory management and adverse currency movement. Although GM contracted,...