The company reported standalone net profit of Rs 53.16 crore for the quarter ended March 31, 2024 as compared to Rs 115.84 crore in the same period last year, registering a year-on-year decline of 54.11 per cent.

Net revenue of the company declined by 5.89 per cent at Rs 539.36 crore in January-March quarter of this fiscal as against Rs 573.10 crore in the corresponding period last year.

During January-March quarter, operating expenses increased by 13.30 per cent to Rs 471.58 crore from Rs 416.24 crore in year ago period.

Other Income grew by 54.52 per cent at Rs 13.32 crore versus (Mar'23 Rs 8.62 crore).

Operating Profit slipped by 56.79 per cent to Rs 67.78 crore as against Rs 156.86 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 54.07 per cent in March quarter.

Interest declined by 56.46 per cent y-o-y to Rs 0.64 crore, while Taxation decreased by 55.93 per cent at Rs 16.71 crore (Mar'23 Rs 37.92 crore).