The company reported standalone net profit of Rs 25.74 crore for the quarter ended March 31, 2020 as compared to Rs 31.26 crore in the same period last year, registering a year-on-year decline of 17.66 per cent. Net revenue of the company declined marginally by 4.08 per cent at Rs 1,301.08 crore in January-March quarter of this fiscal as against Rs 1,356.48 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 3.49 per cent to Rs 1,242.94 crore from Rs 1,287.90 crore in year ago period. Other Income dipped by 67.91 per cent at Rs 2.23 crore versus (Mar'19 Rs 6.95 crore).
Operating Profit slipped by 15.22 per cent to Rs 58.14 crore as against Rs 68.58 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 11.66 per cent in March quarter. Interest grew by 62.25 per cent y-o-y to Rs 6.62 crore, while Taxation decreased by 60.04 per cent at Rs 8.88 crore (Mar'19 Rs 22.22 crore).