The company reported standalone net profit of Rs 15.15 crore for the quarter ended September 30, 2019 as compared to Rs 382.66 crore in the same period last year, registering a year-on-year decline of 96.04 per cent. Net revenue of the company declined marginally by 3.50 per cent at Rs 6,572.92 crore in July-September quarter of this fiscal as against Rs 6,811.47 crore in the corresponding period last year. During July-September quarter, operating expenses dropped by 1.46 per cent to Rs 5,317.85 crore from Rs 5,396.73 crore in year ago period.
Operating Profit slipped by 13.57 per cent to Rs 1,255.07 crore as against Rs 1,452.05 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 10.46 per cent in September quarter. Interest declined by 2.80 per cent y-o-y to Rs 656.87 crore, while Taxation decreased by 98.87 per cent at Rs 0.75 crore (Sep'18 Rs 66.56 crore).