The company reported standalone net profit of Rs 612.38 crore for the quarter ended March 31, 2024 as compared to Rs 1004.19 crore in the same period last year, registering a year-on-year decline of 39.02 per cent.

Net revenue of the company declined marginally by 1.60 per cent at Rs 17,720.18 crore in January-March quarter of this fiscal as against Rs 18,008.89 crore in the corresponding period last year.

During January-March quarter, operating expenses increased by 1.81 per cent to Rs 16,678.46 crore from Rs 16,382.22 crore in year ago period.

Other Income grew by 96.07 per cent at Rs 3.49 crore versus (Mar'23 Rs 1.78 crore).

Operating Profit slipped by 35.96 per cent to Rs 1,041.72 crore as against Rs 1,626.67 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 34.88 per cent in March quarter.

Interest declined by 39.45 per cent y-o-y to Rs 50.94 crore, while Taxation decreased by 39.72 per cent at Rs 231.14 crore (Mar'23 Rs 383.45 crore).