The company reported standalone net profit of Rs 18.58 crore for the quarter ended September 30, 2019 as compared to Rs 26.04 crore in the same period last year, registering a year-on-year decline of 28.65 per cent. Net revenue of the company declined moderately by 19.99 per cent at Rs 429.36 crore in July-September quarter of this fiscal as against Rs 536.63 crore in the corresponding period last year. During July-September quarter, operating expenses dropped by 19.24 per cent to Rs 386.09 crore from Rs 478.06 crore in year ago period.
Other Income dipped by 5.96 per cent at Rs 1.42 crore versus (Sep'18 Rs 1.51 crore). Operating Profit slipped by 26.11 per cent to Rs 43.28 crore as against Rs 58.57 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 7.61 per cent in September quarter. Interest declined by 21.47 per cent y-o-y to Rs 3.73 crore, while Taxation decreased by 71.96 per cent at Rs 3.46 crore (Sep'18 Rs 12.34 crore).