The company reported standalone net profit of Rs 311.50 crore for the quarter ended March 31, 2021 as compared to Rs 502.80 crore in the same period last year, registering a year-on-year decline of 38.05 per cent. Net revenue of the company rose moderately by 18.07 per cent at Rs 3,350.70 crore in January-March quarter of this fiscal as against Rs 2,837.90 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 17.89 per cent to Rs 2,747.80 crore from Rs 2,330.90 crore in year ago period. Other Income dipped by 35.95 per cent at Rs 81.60 crore versus (Mar'20 Rs 127.40 crore).
Operating Profit surged by 15.76 per cent to Rs 602.90 crore as against Rs 520.80 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 1.96 per cent in March quarter. Interest grew by 43.22 per cent y-o-y to Rs 16.90 crore, while Taxation increased by 347.70 per cent at Rs 145.40 crore (Mar'20 Rs -58.70 crore).