The company reported standalone net profit of Rs 26.59 crore for the quarter ended March 31, 2020 as compared to Rs 17.30 crore in the same period last year, registering a year-on-year growth of 53.70 per cent. Net revenue of the company declined moderately by 16.79 per cent at Rs 424.64 crore in January-March quarter of this fiscal as against Rs 510.31 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 17.74 per cent to Rs 391.56 crore from Rs 476.02 crore in year ago period. Other Income grew by 17.04 per cent at Rs 3.16 crore versus (Mar'19 Rs 2.70 crore). Operating Profit slipped by 3.53 per cent to Rs 33.08 crore as against Rs 34.29 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 15.92 per cent in March quarter. Interest grew by 42.50 per cent y-o-y to Rs 1.14 crore, while Taxation decreased by 150.30 per cent at Rs -4.25 crore (Mar'19 Rs 8.45 crore).