![Technology](https://w3assets.angelone.in/wp-content/uploads/2018/08/Technology.jpg)
For 3QFY2018, Asian Granito (AGL) posted results in line with our expectations
on top-line basis, however bottom-line disappointed. Revenue grew by ~6% yoy
(after adjusting exercise duty top-line growth grew ~13.8% ) to `264cr, driven by
strong volume growth of ~25%. On the operating front, margins contracted by
10bps yoy due to higher power (gas price rose more than 10% during the quarter) and employee costs. This led to PAT de-growth of ~8% yoy to `12cr.
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