The company reported standalone net profit of Rs 2,470.16 crore for the quarter ended June 30, 2020 as compared to Rs 2602.79 crore in the same period last year, registering a year-on-year decline of 5.10 per cent. Net revenue of the company declined marginally by 3.06 per cent at Rs 23,453.46 crore in April-June quarter of this fiscal as against Rs 24,192.59 crore in the corresponding period last year.
During April-June quarter, operating expenses dropped by 11.45 per cent to Rs 15,708.44 crore from Rs 17,740.21 crore in year ago period. Other Income grew by 73.97 per cent at Rs 567.54 crore versus (Jun'19 Rs 326.22 crore).
Operating Profit surged by 20.03 per cent to Rs 7,745.02 crore as against Rs 6,452.38 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 23.81 per cent in June quarter. Interest grew by 33.05 per cent y-o-y to Rs 2,082.52 crore, while Taxation increased by 14.95 per cent at Rs 1,230.17 crore (Jun'19 Rs 1,070.21 crore).