₹1,854.5 crore, lower than consensus estimates. This is the first decline in Divi’s revenue in the last 20 quarters, said analysts from Nuvama.
Operating deleverage coupled with high energy costs meant that the Ebitda (earnings before interest, taxes, depreciation and amortization) margin fell fast.
The metric declined by as much as 767 basis points (bps) y-o-y to 33.5%, the lowest in the past ten quarters. One basis point is 0.01%.