2019 to = 580.41 million in Fiscal 2020, on account of increase in the number of our employees from 2,150 as of
March 31, 2019 to 2,914 as of March 31, 2020, due to an increase in stores. This also led to an increase in
contribution to provident and other funds by 64.58% from % 8.16 million in Fiscal 2019 to = 13.43 million in
Fiscal 2020; gratuity expenses from % 6.79 million in Fiscal 2019 to = 7.12 million in Fiscal 2020; and staff welfare
expenses from 2 14.83 million in Fiscal 2019 to 18.58 million in Fiscal 2020.

Finance costs

Finance costs increased by 44.77% from = 113.78 million in Fiscal 2019 to 2 164.72 million in Fiscal 2020
primarily due to an increase in lease rental discounting by 44.26% from % 113.60 million in Fiscal 2019 to =
163.88 million in Fiscal 2020 as a result of the adoption of Ind AS 116. Expenses on delayed payment of income
tax also increased from nil in Fiscal 2019 to % 0.72 million in Fiscal 2020.

Depreciation and amortisation expenses

Depreciation and amortisation expenses increased by 44.96% from % 321.28 million in Fiscal 2019 to % 465.72
million in Fiscal 2020, primarily on account of increase in amortisation of right-of-use assets by 44.23% from &
273.49 million in Fiscal 2019 to % 394.45 million in Fiscal 2020, due to the adoption of Ind AS 116 and the
opening of additional stores. Depreciation of property, plant and equipment also increased by 52.07% from =
45.52 million in Fiscal 2019 to = 69.22 million in Fiscal 2020.

Other expenses

Other expenses decreased by 4.86% from 2 483.74 million in Fiscal 2019 to % 460.21 million in Fiscal 2020,
primarily due to an decrease in expenditure on obsolete stock written off from % 50.20 million in Fiscal 2019 to a
nil in Fiscal 2020 and a decrease in expenditure on bad debts from 2 105.28 million in Fiscal 2019 to a nil in Fiscal
2020 attributable to closure of our subsidiary:

The decrease was partially offset by an increase in:

¢ Power and fuel expenses that increased by 79.04% from 2 22.09 million in Fiscal 2019 to = 39.55 million in
Fiscal 2020 primarily on account of increase in number of stores.

¢ Sales promotion expenses that increased by 33.99% from % 53.14 million in Fiscal 2019 to = 71.20 million in
Fiscal 2020 primarily due to new advertisement campaigns such as billboards and focussed cluster campaigns.

¢ Freight and handling charges that increased by 27.63% from % 37.14 million in Fiscal 2019 to = 47.40 million
in Fiscal 2020 primarily due to increase in product volumes, stores, and LFS supplies.

¢ Rent that increased by 64.43% from % 67.50 million in Fiscal 2019 to = 110.99 million in Fiscal 2020 due to
the adoption of Ind AS 116.

¢ Repairs and maintenance expenses of buildings that increased by 38.56% from % 39.94 million in Fiscal 2019
to = 55.34 million in Fiscal 2020 primarily due to an increase in the number of stores.

¢ Bank charges that increased by 63.62% from % 9.84 million in Fiscal 2019 to = 16.10 million in Fiscal 2020
due to higher LC charges as a result of increased imports.

© Property, plant and equipment written off that increased from a nil in Fiscal 2019 to 19.34 million in Fiscal
2020 on account of impairment of assets under Ind AS 36.

Restated Profit before tax

For the reasons discussed above, restated profit before tax was 2 682.86 million in Fiscal 2020 compared to 2
422.14 million in Fiscal 2019.

Tax Expense

Current tax expenses increased from 2 136.78 million in Fiscal 2019 to % 204.65 million in Fiscal 2020 and
deferred tax allowance increased from % 21.26 million in Fiscal 2019 to 2 46.55 million in Fiscal 2020, primarily

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