The company reported standalone net profit of Rs 16.63 crore for the quarter ended June 30, 2020 as compared to Rs 97.78 crore in the same period last year, registering a year-on-year decline of 82.99 per cent. Net revenue of the company declined substantially by 33.75 per cent at Rs 1,380.63 crore in April-June quarter of this fiscal as against Rs 2,084.08 crore in the corresponding period last year.
During April-June quarter, operating expenses dropped by 33.06 per cent to Rs 1,251.56 crore from Rs 1,869.72 crore in year ago period. Other Income dipped by 45.77 per cent at Rs 33.29 crore versus (Jun'19 Rs 61.39 crore).
Operating Profit slipped by 39.79 per cent to Rs 129.07 crore as against Rs 214.36 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 9.14 per cent in June quarter. Interest grew by 9.82 per cent y-o-y to Rs 1.79 crore, while Taxation decreased by 83.90 per cent at Rs 8.04 crore (Jun'19 Rs 49.94 crore).