Earnings in-line: 4QFY19 revenue grew 7% YoY to INR12b, while EBITDA was up 2.5% YoY to 1.7b. Reported EBITDA margin declined 60bp YoY to 14%, but adjusting for ESOP charges, EBITDA margin contracted 130bp YoY to 14.6%. Other income was higher than expectation at INR172m. Thus, adj. PAT came in at INR1.13b, in line with our expectation. For FY19, revenue growth stood...