diṣṭyā - by (our) good fortune; te - by You; nihataḥ - killed; daityaḥ - demon; līlayā - as a game; ayam - this; haya-ākṛtiḥ - having the form of a horse; yasya - whose; heṣita - by the neighing; santrastāḥ - terrified; tyajanti - abandon; animiṣāḥ - the demigods; divam - heaven.

The horse demon was so terrifying that his neighing frightened the demigods into leaving their heavenly kingdom. But by our good fortune You have enjoyed the sport of killing him.