The company reported standalone net profit of Rs 11.85 crore for the quarter ended March 31, 2020 as compared to Rs 21.57 crore in the same period last year, registering a year-on-year decline of 45.06 per cent.
Net revenue of the company declined moderately by 9.40 per cent at Rs 371.80 crore in January-March quarter of this fiscal as against Rs 410.39 crore in the corresponding period last year. During January-March quarter, operating expenses dropped by 7.24 per cent to Rs 331.66 crore from Rs 357.56 crore in year ago period.
Other Income dipped by 57.65 per cent at Rs 1.08 crore versus (Mar'19 Rs 2.55 crore). Operating Profit slipped by 24.01 per cent to Rs 40.14 crore as against Rs 52.82 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 16.08 per cent in March quarter. Interest grew by 33.64 per cent y-o-y to Rs 21.45 crore, while Taxation decreased by 84.12 per cent at Rs 1.84 crore (Mar'19 Rs 11.59 crore).