The company reported standalone net profit of Rs 23.98 crore for the quarter ended December 31, 2017 as compared to Rs 102.12 crore in the same period last year, registering a year-on-year decline of 76.52 per cent.
Net revenue of the company declined substantially by 59.65 per cent at Rs 509.01 crore in October-December quarter of this fiscal as against Rs 1,261.47 crore in the corresponding period last year.
During October-December quarter, operating expenses dropped by 55.41 per cent to Rs 446.30 crore from Rs 1,000.89 crore in year ago period.
Other Income grew by 112.35 per cent at Rs 31.98 crore versus (Dec'16 Rs 15.06 crore).
Operating Profit slipped by 76.44 per cent to Rs 62.71 crore as against Rs 266.19 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 41.61 per cent in December quarter.
Interest declined by 59.73 per cent y-o-y to Rs 25.10 crore, while Taxation decreased by 78.89 per cent at Rs 11.22 crore (Dec'16 Rs 53.14 crore).