This was the most awaited result of yesterday and it did not disappoint. The company continues to a post at consolidated net level but the underlying good news is that the loss has come down and it has shown extraordinary betterment in operating efficiencies. The standalone numbers, which have always been very bad were actually the reason why the consolidated loss came down and that is what the market is cheering today.

Its consolidated net loss for Q4FY17 was at Rs.1168 crore v/s Rs.3042 crore in previous Q4 – the same quarter when it saw an exceptional loss of Rs.4069 crore. Its revenue shot up 30% (YoY) to Rs.35,305 crore and the best part – EBITDA rose over 200% to Rs.7025 crore and margins showed a jaw dropping jump from 8.7% to 20.7%.

On a standalone basis, which is basically the performance of its Indian operations, it turned in a net profit of Rs.1415 crore v/s Rs.520 crore – more than doubling and this was on a 46% jump in revenue at Rs.17,113 crore.

The company’s debt though is huge – Rs.83,000 crore at the end of FY17.