The company reported standalone net profit of Rs 257.00 crore for the quarter ended March 31, 2020 as compared to Rs 414.33 crore in the same period last year, registering a year-on-year decline of 37.97 per cent. Net revenue of the company declined moderately by 17.35 per cent at Rs 1,321.15 crore in January-March quarter of this fiscal as against Rs 1,598.43 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 15.08 per cent to Rs 1,023.05 crore from Rs 1,204.69 crore in year ago period. Other Income grew by 6.34 per cent at Rs 67.05 crore versus (Mar'19 Rs 63.05 crore).
Operating Profit slipped by 24.29 per cent to Rs 298.10 crore as against Rs 393.74 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 8.40 per cent in March quarter. Interest declined by 58.16 per cent y-o-y to Rs 2.64 crore, while Taxation increased by 596.80 per cent at Rs 52.33 crore (Mar'19 Rs 7.51 crore).