The company reported standalone net profit of Rs 13.90 crore for the quarter ended March 31, 2020 as compared to Rs 18.35 crore in the same period last year, registering a year-on-year decline of 24.25 per cent. Net revenue of the company rose moderately by 7.67 per cent at Rs 146.90 crore in January-March quarter of this fiscal as against Rs 136.44 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 12.89 per cent to Rs 71.72 crore from Rs 63.53 crore in year ago period. Other Income dipped by 81.82 per cent at Rs 0.04 crore versus (Mar'19 Rs 0.22 crore).
Operating Profit surged by 3.11 per cent to Rs 75.18 crore as against Rs 72.91 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 4.23 per cent in March quarter. Interest grew by 25.85 per cent y-o-y to Rs 56.23 crore, while Taxation decreased by 53.00 per cent at Rs 4.62 crore (Mar'19 Rs 9.83 crore).