Opening Remarks by Management

It was a superb set of results in quarter 3, up significantly quarter-on-quarter as well as year-on-year. Total revenues from operations was Rs. 2,169 crores versus Rs. 1,320 crores a year earlier. That is a rise of 64% yearon-year. EBITDA for the group was a huge Rs. 157 crores versus Rs. 103 crores a year earlier. That is a rise of 53%, and that is a cumulative Rs. 402 crores of EBITDA for 9 months of this financial year 2020.

Normalized profit before tax, by which I mean excluding the noncash accounting charge of the employee stock plan of Rs. 42.1 crores for Q3. So normalized profit before tax, excluding the ESPP charge was Rs. 130 crores versus Rs. 76 crores a year earlier. That is a rise of 71% yearon-year. And even that figure of Rs. 130 crores are much higher than the normalized quarter 2 pretax profit of Rs. 104 crores.

So this quarter was really a fantastic quarter, Rs. 130 crores of normalized profit before tax. The normalized profit after tax for the group was Rs. 101 crores versus Rs. 65 crores a year earlier. That is a rise of 55%. And the normalized profit after tax after minority interest, in other words, the profit after tax available to common shareholders was Rs. 92 crores for Q3 versus Rs. 59 crores a year earlier. That is a rise of 56% year-on-year.

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