IGI Logo

The company reported standalone net profit of Rs 116.40 crore for the quarter ended March 31, 2023 as compared to Rs 173.55 crore in the same period last year, registering a year-on-year decline of 32.93 per cent. Net revenue of the company declined moderately by 15.39 per cent at Rs 1,562.83 crore in January-March quarter of this fiscal as against Rs 1,847.14 crore in the corresponding period last year. During January-March quarter, operating expenses dropped by 13.48 per cent to Rs 1,314.68 crore from Rs 1,519.57 crore in year ago period. Other Income grew by 37.27 per cent at Rs 8.14 crore versus (Mar'22 Rs 5.93 crore).

Operating Profit slipped by 24.25 per cent to Rs 248.15 crore as against Rs 327.57 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 10.43 per cent in March quarter. Interest grew by 17.33 per cent y-o-y to Rs 21.67 crore, while Taxation decreased by 35.15 per cent at Rs 39.25 crore (Mar'22 Rs 60.52 crore).