The company reported standalone net profit of Rs 17.56 crore for the quarter ended September 30, 2019 as compared to Rs 26.39 crore in the same period last year, registering a year-on-year decline of 33.46 per cent. Net revenue of the company declined substantially by 54.97 per cent at Rs 80.62 crore in July-September quarter of this fiscal as against Rs 179.05 crore in the corresponding period last year.
During July-September quarter, operating expenses dropped by 46.20 per cent to Rs 110.72 crore from Rs 205.81 crore in year ago period. Other Income grew by 37.49 per cent at Rs 136.72 crore versus (Sep'18 Rs 99.44 crore).
Operating Profit surged by 12.48 per cent to Rs -30.10 crore as against Rs -26.76 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 149.77 per cent in September quarter. Interest grew by 8.92 per cent y-o-y to Rs 71.06 crore, while Taxation increased by 163.16 per cent at Rs 13.97 crore (Sep'18 Rs -22.12 crore).