The company reported standalone net profit of Rs 168.00 crore for the quarter ended March 31, 2020 as compared to Rs 210.68 crore in the same period last year, registering a year-on-year decline of 20.26 per cent.
Net revenue of the company declined substantially by 20.92 per cent at Rs 2,055.09 crore in January-March quarter of this fiscal as against Rs 2,598.66 crore in the corresponding period last year. During January-March quarter, operating expenses dropped by 19.80 per cent to Rs 1,784.86 crore from Rs 2,225.41 crore in year ago period. Other Income grew by 1.57 per cent at Rs 16.86 crore versus (Mar'19 Rs 16.60 crore).
Operating Profit slipped by 27.60 per cent to Rs 270.23 crore as against Rs 373.25 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 8.43 per cent in March quarter. Interest grew by 197.58 per cent y-o-y to Rs 3.69 crore, while Taxation decreased by 77.19 per cent at Rs 21.54 crore (Mar'19 Rs 94.45 crore).