Vardhman Textiles' (VTL) revenues for Q3FY21 fell 4% YoY to | 1750 crore. Gross margin improvement of 340 bps YoY to 48.3% and lower power cost (down 120 bps YoY to 9.9%) enabled EBITDA margin expansion of 421 bps YoY to 15.8%. EBITDA was up 31% YoY at | 276 crore. Consequently, PBT grew 31% YoY to | 219 crore. However, PAT fell 13% to | 175 crore owing to deferred tax adjustment in the base quarter. The yarn business (including internal transfer) volumes grew 3% YoY to 61178 metric tonnes while fabric business volumes showed signs of a pickup in demand and recovered to 87% of pre-Covid levels (69% on Q2FY21)....