The company reported standalone net profit of Rs 28.01 crore for the quarter ended March 31, 2020 as compared to Rs 53.94 crore in the same period last year, registering a year-on-year decline of 48.07 per cent. Net revenue of the company declined substantially by 20.90 per cent at Rs 384.45 crore in January-March quarter of this fiscal as against Rs 486.03 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 16.31 per cent to Rs 320.75 crore from Rs 383.28 crore in year ago period. Other Income dipped by 70.80 per cent at Rs 2.33 crore versus (Mar'19 Rs 7.98 crore).
Operating Profit slipped by 38.01 per cent to Rs 63.70 crore as against Rs 102.76 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 21.62 per cent in March quarter. Interest declined by 14.68 per cent y-o-y to Rs 5.58 crore, while Taxation decreased by 64.54 per cent at Rs 10.85 crore (Mar'19 Rs 30.60 crore).