The company reported standalone net profit of Rs 386.02 crore for the quarter ended March 31, 2020 as compared to Rs 210.79 crore in the same period last year, registering a year-on-year growth of 83.13 per cent.
Net revenue of the company declined moderately by 7.43 per cent at Rs 1,671.30 crore in January-March quarter of this fiscal as against Rs 1,805.40 crore in the corresponding period last year. During January-March quarter, operating expenses dropped by 4.85 per cent to Rs 1,441.99 crore from Rs 1,515.49 crore in year ago period.
Other Income grew by 808.89 per cent at Rs 281.12 crore versus (Mar'19 Rs 30.93 crore). Operating Profit slipped by 12.72 per cent to Rs 293.22 crore as against Rs 335.94 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 5.75 per cent in March quarter.
Interest declined by 35.47 per cent y-o-y to Rs -5.24 crore, while Taxation decreased by 7.48 per cent at Rs 101.04 crore (Mar'19 Rs 109.21 crore).