The company reported standalone net profit of Rs 140.02 crore for the quarter ended December 31, 2023 as compared to Rs 588.62 crore in the same period last year, registering a year-on-year decline of 76.21 per cent.

Net revenue of the company declined substantially by 25.22 per cent at Rs 7,580.93 crore in October-December quarter of this fiscal as against Rs 10,137.34 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 21.03 per cent to Rs 7,265.77 crore from Rs 9,200.32 crore in year ago period.

Other Income dipped by 47.50 per cent at Rs 17.35 crore versus (Dec'22 Rs 33.05 crore).

Operating Profit slipped by 66.37 per cent to Rs 315.16 crore as against Rs 937.02 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 54.98 per cent in December quarter.

Interest declined by 47.02 per cent y-o-y to Rs 49.86 crore, while Taxation decreased by 74.60 per cent at Rs 50.21 crore (Dec'22 Rs 197.71 crore).