The company reported standalone net profit of Rs 35.48 crore for the quarter ended September 30, 2019 as compared to Rs 55.08 crore in the same period last year, registering a year-on-year decline of 35.58 per cent.
Net revenue of the company declined substantially by 20.19 per cent at Rs 354.04 crore in July-September quarter of this fiscal as against Rs 443.59 crore in the corresponding period last year. During July-September quarter, operating expenses dropped by 19.65 per cent to Rs 284.33 crore from Rs 353.88 crore in year ago period.
Other Income dipped by 63.75 per cent at Rs 3.11 crore versus (Sep'18 Rs 8.58 crore). Operating Profit slipped by 22.29 per cent to Rs 69.71 crore as against Rs 89.71 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 2.62 per cent in September quarter. Interest declined by 13.67 per cent y-o-y to Rs 3.22 crore, while Taxation increased by 65.96 per cent at Rs 17.16 crore (Sep'18 Rs 10.34 crore).