The company reported standalone net profit of Rs 20.30 crore for the quarter ended September 30, 2019 as compared to Rs 24.40 crore in the same period last year, registering a year-on-year decline of 16.80 per cent.
Net revenue of the company declined moderately by 12.74 per cent at Rs 197.90 crore in July-September quarter of this fiscal as against Rs 226.80 crore in the corresponding period last year. During July-September quarter, operating expenses dropped by 9.02 per cent to Rs 167.50 crore from Rs 184.10 crore in year ago period. Other Income grew by 128.57 per cent at Rs 3.20 crore versus (Sep'18 Rs 1.40 crore).
Operating Profit slipped by 28.81 per cent to Rs 30.40 crore as against Rs 42.70 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 18.43 per cent in September quarter. Interest grew by 0.00 per cent y-o-y to Rs 0.20 crore, while Taxation decreased by 57.60 per cent at Rs 5.30 crore (Sep'18 Rs 12.50 crore).