In 3QFY17, net sales were at `1,862.6mn up 41.2% q/q. This was mainly due to increase in meter sales. While, y/y there was a decline of 9.8% due to change in business model. EBITDA margin contracted by 330 bps q/q to 12.3% due to increased other expenses during the quarter. The other expenses increased mainly due to higher contribution from ECC segment (capital intensive) during this quarter The other expenses and staff cost y/y increased by 42.2% and 11.1% respectively, where raw material expenditure y/y decreased by 16.5%. Depreciation stood at `39.7mn (+12.2% y/y; +3.1% q/q). Interest expense stood at `57.5 mn (-10.3% q/q;...