Other income jumped from Rs 33 lakh to Rs 2.62 crore and interest cost fell 1% to Rs 15.83 crore. After providing for depreciation (down 12% to Rs 4.53 crore), PBT fell 30% to Rs 81.57 crore.

Provision for taxation slumped 55% to Rs 14.53 crore, after which PAT went down 20% to Rs 62.51 crore.

Minority interest and share of profit/loss of associate companies grew 19% to Rs 2.86 crore.

Finally net profit fell 21% to Rs 59.65 crore.

For FY 2018, consolidated sales grew 8% to Rs 32457.28 crore. OPM fell 80 bps points to 8.4% which saw OP fall 2% to Rs 291.76 crore.

Other income fell 50% to Rs 5.65 crore and interest cost grew 10% to Rs 57.68 crore. After providing for depreciation (down 7% to Rs 17.84 crore), PBT fell 6% to Rs 221.89 crore.

Provision for taxation went up 16% to Rs 77.40 crore after which PAT went down 15% to Rs 144.49 crore.

Minority interest and share of profit/loss of associate companies fell 81% to Rs 12.98 crore. Finally net profit grew 28% to Rs 131.51 crore.

Consolidated segment Performance

During the quarter Indian business contributed 26% of the total revenue. Revenue fell 42% to Rs 264.07 crore. PBIT stood at a profit of Rs 13.56 crore against a loss of Rs 17.57 crore and accounted for 6% of total

During the quarter Rest of the World business accounted for 74% of the total revenue. Revenue grew 5% to Rs 770.86 crore. PBIT fell 16% to Rs 204.05 crore and accounted for 94% of total

For FY 2018, Indian business contributed 27% of the total revenue. Revenue fell 19% to Rs 945.95 crore. PBIT fell 17% to Rs 101.60 crore and accounted for 14% of total

For FY 2018, Rest of the World business accounted for 73% of the total revenue. Revenue grew 20% to Rs 2592.56 crore. PBIT grew 27% to Rs 612.39 crore and accounted for 86% of total

Valuation

The share price trades at Rs 454.