This does not have any impact on the fiscal position of the government as recap bonds are part of below the line items
. According to sources, the government is considering additional capital infusion of up to Rs 30,000-40,000 crore in PSBs as they have been unable to raise required funds from the markets.
The following reflects the key assumption changes to the Company's prior adjusted EPS outlook: Higher input costs, including tariffs, FX & commodities (- ~$0.25); Lower expected organic growth (- ~$0.15); Lower anticipated tax rate and other below the line items
Further, he notes that operating margins were light and the earnings beat really came from below the line items
. Auty admits, though, that 32.8% growth in digital media ARR was good, "just not the upside investors have become accustomed to seeing."