The company reported standalone net profit of Rs 527.40 crore for the quarter ended March 31, 2024 as compared to Rs 676.70 crore in the same period last year, registering a year-on-year decline of 22.06 per cent.

Net revenue of the company declined marginally by 4.82 per cent at Rs 10,411.00 crore in January-March quarter of this fiscal as against Rs 10,938.50 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 1.84 per cent to Rs 9,712.80 crore from Rs 9,895.10 crore in year ago period.

Other Income grew by 242.59 per cent at Rs 272.70 crore versus (Mar'23 Rs 79.60 crore).

Operating Profit slipped by 33.08 per cent to Rs 698.20 crore as against Rs 1,043.40 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 29.66 per cent in March quarter.

Interest grew by 3.87 per cent y-o-y to Rs 59.10 crore, while Taxation decreased by 3.90 per cent at Rs 180.00 crore (Mar'23 Rs 187.30 crore).