• Income for the quarter including GST and other income was down by 25% to RS 1470.03 crore compared to Rs 1972.95 crore in the corresponding previous period. Sharp fall in revenue was largely due to GST transition issues. Other income was up by 68% to Rs 42.24 crore. The PBIDT margin expanded by 140 bps to 11.3% and the PBIDT was down by 15% to Rs 166.59 crore.
  
• The interest cost was down by 10% to Rs 88.76 crore. The depreciation was up by 3% to Rs 29.04 crore. Interest and depreciation as proportion to operating profit was higher at 71.4% and 23.4% respectively compared to 57.6% and 16.5% in corresponding previous period. Thus the PBT before EO was down by 30% to Rs 48.79 crore.
  
• The EO was an expense of Rs 58.98 crore compared to an income of Rs 4.77 crore in the corresponding previous period. EO income for the quarter pertains to profit on sales of investment. Hurt thus the PBT after EO was a loss of Rs 10.19 crore compared to a profit of Rs 74.07 crore in the corresponding previous period.
  
• Taxation net of deferred tax was a write back of Rs 30.49 crore compared to a provision of Rs 22.89 crore in the corresponding previous period. Thus gained by the writeback, the PAT was a profit of Rs 20.30 crore, a fall of 60%.
  
• Other comprehensive expense was Rs 0.20 crore, a fall of 97%. Thus the total comprehensive income was down by 55% to Rs 20.10 crore.

Half yearly performance

Revenue including other income and gross of GST was lower by 10% to Rs 3504.63 crore. With PBIDT margin expand by 20 bps to 10.2% the PBIDT was down by 8% to Rs 358.44 crore. After accounting for higher interest and depreciation as % to OP, the PBT was down by 11% to Rs 126.97 crore. After accounting for an EO expense of Rs 46.56 crore against an income of Rs 4.77 crore, the PBT after EO was down by 45% to Rs 80.41 crore. The taxation was a writeback of Rs 3.32 crore compared to a provision of Rs 43.19 crore in the corresponding previous period. Thus the PAT was down by 19% to Rs 83.73 crore.