The company reported standalone net loss during the quarter stood at Rs 16.66 crore compared to net profit of Rs 36.19 crore in the previous year quarter. Net revenue of the company declined substantially by 52.70 per cent at Rs 54.91 crore in January-March quarter of this fiscal as against Rs 116.09 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 45.13 per cent to Rs 58.79 crore from Rs 107.14 crore in year ago period. Other Income dipped by 45.88 per cent at Rs 0.46 crore versus (Mar'19 Rs 0.85 crore).
Operating Profit slipped by 143.35 per cent to Rs -3.88 crore as against Rs 8.95 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 191.70 per cent in March quarter. Interest declined by 35.49 per cent y-o-y to Rs 8.09 crore