The company reported standalone net profit of Rs 23.90 crore for the quarter ended March 31, 2020 as compared to Rs 126.20 crore in the same period last year, registering a year-on-year decline of 81.06 per cent. Net revenue of the company declined moderately by 11.39 per cent at Rs 1,993.80 crore in January-March quarter of this fiscal as against Rs 2,250.00 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 12.41 per cent to Rs 1,722.40 crore from Rs 1,966.40 crore in year ago period. Other Income dipped by 65.55 per cent at Rs 4.10 crore versus (Mar'19 Rs 11.90 crore).
Operating Profit slipped by 4.30 per cent to Rs 271.40 crore as against Rs 283.60 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 8.02 per cent in March quarter. Interest declined by 20.66 per cent y-o-y to Rs 48.00 crore, while Taxation increased by 120.42 per cent at Rs 137.10 crore (Mar'19 Rs 62.20 crore).