The company reported standalone net profit of Rs 1.91 crore for the quarter ended March 31, 2020 as compared to Rs 8.98 crore in the same period last year, registering a year-on-year decline of 78.73 per cent.
Net revenue of the company declined substantially by 27.01 per cent at Rs 40.94 crore in January-March quarter of this fiscal as against Rs 56.09 crore in the corresponding period last year. During January-March quarter, operating expenses dropped by 10.27 per cent to Rs 33.47 crore from Rs 37.30 crore in year ago period.
Other Income grew by 54.21 per cent at Rs 1.65 crore versus (Mar'19 Rs 1.07 crore). Operating Profit slipped by 60.24 per cent to Rs 7.47 crore as against Rs 18.79 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 45.55 per cent in March quarter. Interest grew by 40.38 per cent y-o-y to Rs 0.73 crore, while Taxation decreased by 233.93 per cent at Rs -7.50 crore (Mar'19 Rs 5.60 crore).