The company reported standalone net profit of Rs 11.79 crore for the quarter ended September 30, 2019 as compared to Rs 16.94 crore in the same period last year, registering a year-on-year decline of 30.40 per cent.

Net revenue of the company declined moderately by 8.56 per cent at Rs 160.08 crore in July-September quarter of this fiscal as against Rs 175.07 crore in the corresponding period last year. During July-September quarter, operating expenses dropped by 4.35 per cent to Rs 136.43 crore from Rs 142.63 crore in year ago period. Other Income grew by 43.75 per cent at Rs 0.23 crore versus (Sep'18 Rs 0.16 crore).

Operating Profit slipped by 27.10 per cent to Rs 23.65 crore as against Rs 32.44 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 20.29 per cent in September quarter. Interest grew by 42.19 per cent y-o-y to Rs 2.73 crore, while Taxation decreased by 61.14 per cent at Rs 2.53 crore (Sep'18 Rs 6.51 crore).