The company reported standalone net profit of Rs 1,241.11 crore for the quarter ended March 31, 2020 as compared to Rs 1177.29 crore in the same period last year, registering a year-on-year growth of 5.42 per cent. Net revenue of the company rose marginally by 2.77 per cent at Rs 10,322.94 crore in January-March quarter of this fiscal as against Rs 10,044.57 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 3.66 per cent to Rs 7,828.22 crore from Rs 7,551.51 crore in year ago period. Other Income grew by 34.30 per cent at Rs 159.52 crore versus (Mar'19 Rs 118.78 crore).
Operating Profit surged by 0.07 per cent to Rs 2,494.72 crore as against Rs 2,493.06 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 2.62 per cent in March quarter. Interest declined by 24.47 per cent y-o-y to Rs 100.97 crore, while Taxation increased by 0.59 per cent at Rs 801.57 crore (Mar'19 Rs 796.89 crore).