Rahul Bhangadia

Congratulations on a good set of numbers in somewhat difficult circumstances. Two questions on the P&L. One is if you could just give us a sense of the drop in the employee cost that we have seen on a quarter-on-quarter or even a year-on-year basis?

And sir, the second question was on the tax rate from what you can see in the presentation, the contribution of the Indian operations to the overall PAT is now much higher. In fact, it is almost 3x of what it used to be in 2 years back. FY ‘22, Indian operations were 25% of PAT. Now this year, we ’re spending almost 75% of PAT.

No sir, my question was more related to tax rate and assuming India works at a nominal tax rate and Africa works at a much more subsidized or probably very, very low tax rate. If the profit contribution from India is this high, I would have agreed that t he tax rate should have been higher, but the tax rates have not gone higher. They remain in the 10%, 12% range. So, that’s what I am asking.