The company reported standalone net profit of Rs 1,250.65 crore for the quarter ended December 31, 2019 as compared to Rs 1681.23 crore in the same period last year, registering a year-on-year decline of 25.61 per cent.
Net revenue of the company declined moderately by 10.22 per cent at Rs 17,767.32 crore in October-December quarter of this fiscal as against Rs 19,788.98 crore in the corresponding period last year.
During October-December quarter, operating expenses dropped by 8.30 per cent to Rs 15,694.95 crore from Rs 17,115.50 crore in year ago period.
Other Income grew by 41.95 per cent at Rs 312.37 crore versus (Dec'18 Rs 220.05 crore).
Operating Profit slipped by 22.48 per cent to Rs 2,072.37 crore as against Rs 2,673.48 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 13.69 per cent in December quarter.
Interest grew by 6.67 per cent y-o-y to Rs 24.16 crore, while Taxation decreased by 24.84 per cent at Rs 620.98 crore (Dec'18 Rs 826.24 crore).