The increase was marginally offset by an decrease in travelling and conveyancing expenses that decreased by
51.98% from 2 2.33 million in the three months ended June 30, 2020 to = 1.12 million in three months ended June
30, 2021, due to nationwide lockdown and temporary closures of certain of our stores on account of the COVID-
19 pandemic, reduced operating hours and reduced travel by the corporate team. and provisions made for
unexpected credit impairments that decreased by 73.78% from % 2.79 million in the three months ended June 30,
2020 to = 0.73 million in three months ended June 30, 2021, due to recovery of receivables by our Company.

  

Restated (Loss)/ Profit Before Tax

For the reasons discussed above, restated loss before tax was = 183.74 million in the three months ended June 30,
2021 compared to a restated loss before tax of = 245.16 million in the three months ended June 30, 2020.
Tax Expense

Deferred tax obligation decreased from % 159.18 million in the three months ended June 30, 2020 to 2 6.22 million
in in the three months ended June 30, 2021, primarily on account of reduced provisioning. As a result, total tax
expense amounted to 2 6.22 million in the three months ended June 30, 2021 compared to % 159.18 million in the
three months ended June 30, 2020.

Restated (Loss)/Profit After Tax

We recorded a loss after tax of = 189.96 million in the three months ended June 30, 2021 compared to a loss after
tax of % 85.98 million in the three months ended June 30, 2020.

Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA)

EBITDA was 2 (59.18) million in the three months ended June 30, 2021 compared to EBITDA of % (152.08)
million in the three months ended June 30, 2020, while EBITDA Margin was (19.09)% in the three months ended
June 30, 2021 compared to (147.58)% in the three months ended June 30, 2020.

For reconciliation of EBITDA and EBITDA Margin, see “Management's Discussion and Analysis of Financial
Condition and Results of Operations — Results of Operations - Non GAAP Measures - Reconciliation of EBITDA
and EBITDA Margin to Restated (Loss) / Profit after Tax” on page 310.

FISCAL 2021 COMPARED TO FISCAL 2020

The following table sets forth certain information with respect to our results of operations on a standalone basis
for Fiscal 2019, 2020 and 2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal
2019 2020 2021
Particulars million) | Percentage | @ million) [Percentage of | (million) | Percentage of
of total total income total income
income

Income
Revenue from operations 2,852.47 98.03% | 3,920.14 98.78% | __2,506.68 88.81%
Other income 57.32 1.97% 48.25 1.22% 315.84 11.19%
Total income 2,909.79 | __100.00% | 3,968.39 100.00% | 2,822.52 10.00%
Expense
Cost of materials consumed 835.37 28.71% | 1062.06 26.76% 488.97 17.32%
Purchases of stock-in-trade 284.08 9.76% 604.59 15.24% 218.17 7.73%
Changes in inventories of
finished goods and work in | (174.75) (6.01)% | (367.14) (9.25)% 214.45 7.60%
progress and stock in trade
Subcontracting charges 204.52 7.03% 275.83, 6.95% 118.19 7.19%
Employee benefit expense 419.63 14.42% 619.54 15.61% 614.87 21.78%
Finance costs 113.78 3.91% 164.72 4.15% 205.69 7.29%
Depreciation and amortisation 321.28 11.04% 465.72 11.74% 604,99 21.43%
expenses
Other expenses 483.74 16.62% 460.21 11.60% 388.54 13.77%
Total expenses 2,487.65 85.49% | 3,285.53 82.79% | 2,853.87 101.11%

 

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