Healthy overall performance; PAT grows 17%: 1QFY20 revenue grew 19% YoY to INR7,950m (v/s est. INR7,705m), primarily driven by 18%/19% YoY growth in stationery/publication revenues. EBITDA rose 17% YoY to INR2,314m (v/s est. INR2,250m), with margin contraction of 30bp YoY to 29% (in-line). Adj. PAT grew 17% YoY to INR1,474m (v/s est. INR1,454m). Publication revenues up healthy 18%; exports drive stationery growth: Publication revenues grew 18% YoY to INR4,322m, while EBIT margins contracted 400bp YoY to 38% in 1QFY20. Stationery revenues grew a robust...