Volumes dip; profitability improves led by realization: Revenues grew 9% YoY to INR16.4b (v/s our est. INR17.6b). Volumes dip 1% YoY. Realizations increased 10%YoY. EBITDA margins came in at 24.6%, while EBITDA stood at INR4.03b. Subsequent to the implementation of IND-AS116 during the quarter, operating/other expenses declined, while depreciation/finance cost increased. While depreciation has increased by ~INR150m, the impact on finance cost is almost negligible. Thus, EBIT/TEU for EXIM was at INR3,720 (+32%YoY) while that for domestic stood at INR1,342 (+19%YoY) in 1QFY20....