The company reported standalone net profit of Rs 11.32 crore for the quarter ended March 31, 2020 as compared to Rs 37.51 crore in the same period last year, registering a year-on-year decline of 69.82 per cent. Net revenue of the company declined substantially by 71.15 per cent at Rs 279.38 crore in January-March quarter of this fiscal as against Rs 968.27 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 63.01 per cent to Rs 308.37 crore from Rs 833.74 crore in year ago period. Other Income grew by 6059.70 per cent at Rs 41.27 crore versus (Mar'19 Rs 0.67 crore).
Operating Profit slipped by 121.55 per cent to Rs -28.99 crore as against Rs 134.53 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 174.73 per cent in March quarter. Interest declined by 4.18 per cent y-o-y to Rs 70.79 crore, while Taxation decreased by 571.57 per cent at Rs -78.28 crore (Mar'19 Rs 16.60 crore).