The company reported standalone net profit of Rs 1,136.84 crore for the quarter ended March 31, 2024 as compared to Rs 1907.98 crore in the same period last year, registering a year-on-year decline of 40.42 per cent.

Net revenue of the company declined by 0.28 per cent at Rs 25,328.67 crore in January-March quarter of this fiscal as against Rs 25,400.91 crore in the corresponding period last year.

During January-March quarter, operating expenses increased by 4.97 per cent to Rs 22,998.96 crore from Rs 21,910.76 crore in year ago period.

Other Income dipped by 54.36 per cent at Rs 39.27 crore versus (Mar'23 Rs 86.05 crore).

Operating Profit slipped by 33.25 per cent to Rs 2,329.71 crore as against Rs 3,490.15 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 33.04 per cent in March quarter.

Interest declined by 20.68 per cent y-o-y to Rs 261.74 crore, while Taxation decreased by 39.63 per cent at Rs 629.08 crore (Mar'23 Rs 1,042.05 crore).