The company reported standalone net profit of Rs 181.53 crore for the quarter ended March 31, 2020 as compared to Rs 211.47 crore in the same period last year, registering a year-on-year decline of 14.16 per cent. Net revenue of the company declined moderately by 9.19 per cent at Rs 3,241.06 crore in January-March quarter of this fiscal as against Rs 3,569.05 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 8.51 per cent to Rs 2,910.70 crore from Rs 3,181.55 crore in year ago period. Other Income dipped by 71.18 per cent at Rs 4.60 crore versus (Mar'19 Rs 15.96 crore).
Operating Profit slipped by 14.75 per cent to Rs 330.36 crore as against Rs 387.50 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 6.17 per cent in March quarter. Interest declined by 25.39 per cent y-o-y to Rs 58.10 crore, while Taxation decreased by 25.72 per cent at Rs 64.62 crore (Mar'19 Rs 87.00 crore).