The company reported standalone net profit of Rs 1,632.76 crore for the quarter ended March 31, 2020 as compared to Rs 6105.84 crore in the same period last year, registering a year-on-year decline of 73.26 per cent. Net revenue of the company declined moderately by 7.46 per cent at Rs 713.04 crore in January-March quarter of this fiscal as against Rs 770.52 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 29.33 per cent to Rs 976.02 crore from Rs 754.66 crore in year ago period. Other Income dipped by 64.46 per cent at Rs 16.19 crore versus (Mar'19 Rs 45.55 crore).
Operating Profit slipped by 1758.13 per cent to Rs -262.98 crore as against Rs 15.86 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 1890.29 per cent in March quarter. Interest declined by 93.55 per cent y-o-y to Rs 56.01 crore, while Taxation decreased by 19.78 per cent at Rs -0.73 crore (Mar'19 Rs -0.91 crore).