The company reported standalone net profit of Rs 49.65 crore for the quarter ended December 31, 2019 as compared to Rs 48.42 crore in the same period last year, registering a year-on-year growth of 2.54 per cent.
Net revenue of the company declined substantially by 26.48 per cent at Rs 812.87 crore in October-December quarter of this fiscal as against Rs 1,105.64 crore in the corresponding period last year.
During October-December quarter, operating expenses dropped by 27.90 per cent to Rs 722.25 crore from Rs 1,001.68 crore in year ago period. Other Income grew by 192.47 per cent at Rs 8.16 crore versus (Dec'18 Rs 2.79 crore).
Operating Profit slipped by 12.83 per cent to Rs 90.62 crore as against Rs 103.96 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 18.62 per cent in December quarter. Interest declined by 33.70 per cent y-o-y to Rs 17.71 crore, while Taxation decreased by 8.90 per cent at Rs 24.45 crore (Dec'18 Rs 26.84 crore).