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The company reported standalone net profit of Rs 10.94 crore for the quarter ended March 31, 2021 as compared to Rs 24.20 crore in the same period last year, registering a year-on-year decline of 54.79 per cent. Net revenue of the company declined substantially by 40.37 per cent at Rs 96.49 crore in January-March quarter of this fiscal as against Rs 161.82 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 35.39 per cent to Rs 78.88 crore from Rs 122.08 crore in year ago period. Other Income grew by 15.84 per cent at Rs 4.68 crore versus (Mar'20 Rs 4.04 crore).

Operating Profit slipped by 55.69 per cent to Rs 17.61 crore as against Rs 39.74 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 25.69 per cent in March quarter. Interest declined by 44.70 per cent y-o-y to Rs 2.19 crore, while Taxation decreased by 83.69 per cent at Rs 1.39 crore (Mar'20 Rs 8.52 crore).