line). However, a decline in D&A; led to an EBIT margin of 3% (above our estimate of 1.8%) and PAT of GBP255m (our estimate: ~GBP104m). S/A higher discounts impact margins: Revenue declined 3.2% YoY to INR185.6b (in-line). EBITDA margin shrank 420bp YoY (-150bp QoQ) to 7.3% (our estimate: 9.2%) due to higher discounts. Higher other income...