Enormous Input Test time limit for python

My submission for INTEST (in Python 2.7)took 46.50s to execute whereas the limit is 8 sec. Is there any kind of bug or it really executed for that long?

Here is my Python code:
http://www.codechef.com/viewsolution/1142922

Time limit in statement is for one test file, displayed time is sum for all files.

thanks betlista.
Sorry I did not read FAQ. (http://www.codechef.com/wiki/faq#What_does_the_execution_time_displayed_for_my_submission_mean)

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