The company reported standalone net profit of Rs 50.27 crore for the quarter ended March 31, 2019 as compared to Rs 98.27 crore in the same period last year, registering a year-on-year decline of 48.85 per cent.

Net revenue of the company declined moderately by 10.29 per cent at Rs 406.96 crore in January-March quarter of this fiscal as against Rs 453.64 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 10.45 per cent to Rs 371.59 crore from Rs 414.94 crore in year ago period.

Other Income grew by 32.24 per cent at Rs 48.69 crore versus (Mar'18 Rs 36.82 crore).

Operating Profit slipped by 8.60 per cent to Rs 35.37 crore as against Rs 38.70 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 1.88 per cent in March quarter.

Interest grew by 39.36 per cent y-o-y to Rs 12.71 crore, while Taxation decreased by 90.52 per cent at Rs -4.93 crore (Mar'18 Rs -52.02 crore).