NACL consolidated revenue stood at INR36b (YoY/QoQ: -3%/+7%) againstour estimate of INR39b. Consolidated EBITDA stood at INR11b (YoY/QoQ:+45% /+43%) and was higher than our est of INR8.4b. Consol EBITDAmargin stood at 30.9% in 4QFY24 (20.9% in 4QFY23 and 23.1% in 3QFY24).