The company reported standalone net loss during the quarter stood at Rs 23.72 crore compared to net profit of Rs 0.36 crore in the previous year quarter. Net revenue of the company declined substantially by 83.53 per cent at Rs 28.86 crore in April-June quarter of this fiscal as against Rs 175.28 crore in the corresponding period last year.
During April-June quarter, operating expenses dropped by 71.53 per cent to Rs 48.54 crore from Rs 170.50 crore in year ago period. Other Income grew by 134.67 per cent at Rs 1.76 crore versus (Jun'19 Rs 0.75 crore).
Operating Profit slipped by 511.51 per cent to Rs -19.67 crore as against Rs 4.78 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 2596.70 per cent in June quarter. Interest grew by 78.28 per cent y-o-y to Rs 4.35 crore, while Taxation decreased by 96.49 per cent at Rs 0.04 crore (Jun'19 Rs 1.14 crore).