Other income fell 65% to Rs 65 lakh and interest cost rose 11% to Rs 14.83 crore. After providing for depreciation (down 6% to Rs 4.27 crore), PBT fell 12% to Rs 22.70 crore.

Provision for taxation slumped 37% to Rs 10.09 crore (tax incidence fell from 61.7% to 44.4%), after which PAT went down 27% to Rs 12.61 crore.

Minority interest and share of profit/loss of associate companies stood at a positive Rs 39 lakh against a negative 1.56 crore..

Finally net profit grew 55% to Rs 13.00 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 27% of the total revenue. Revenue grew 4% to Rs 189.84 crore. PBIT grew 25% to Rs 30.76 crore and accounted for 18% of total

During the quarter Rest of the World business accounted for 73% of the total revenue. Revenue stagnated at Rs 515.32 crore. PBIT grew 19% to Rs 140.56 crore and accounted for 82% 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 376.