The company reported standalone net profit of Rs 2.03 crore for the quarter ended March 31, 2024 as compared to Rs 5.20 crore in the same period last year, registering a year-on-year decline of 60.96 per cent.

Net revenue of the company declined marginally by 3.94 per cent at Rs 1,411.43 crore in January-March quarter of this fiscal as against Rs 1,469.29 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 7.97 per cent to Rs 1,178.90 crore from Rs 1,280.94 crore in year ago period.

Other Income grew by 5.80 per cent at Rs 2.92 crore versus (Mar'23 Rs 2.76 crore).

Operating Profit surged by 23.46 per cent to Rs 232.53 crore as against Rs 188.35 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 28.47 per cent in March quarter.

Interest grew by 28.00 per cent y-o-y to Rs 142.29 crore, while Taxation decreased by 5.51 per cent at Rs 6.00 crore (Mar'23 Rs 6.35 crore).