The company reported standalone net profit of Rs 51.69 crore for the quarter ended March 31, 2024 as compared to Rs 57.89 crore in the same period last year, registering a year-on-year decline of 10.71 per cent.

Net revenue of the company declined moderately by 15.73 per cent at Rs 561.59 crore in January-March quarter of this fiscal as against Rs 666.44 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 17.51 per cent to Rs 465.47 crore from Rs 564.29 crore in year ago period.

Other Income grew by 52.41 per cent at Rs 4.42 crore versus (Mar'23 Rs 2.90 crore).

Operating Profit slipped by 5.90 per cent to Rs 96.12 crore as against Rs 102.15 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 11.68 per cent in March quarter.

Interest grew by 39.17 per cent y-o-y to Rs 14.78 crore, while Taxation decreased by 18.76 per cent at Rs 16.93 crore (Mar'23 Rs 20.84 crore).