The company reported standalone net profit of Rs 2,277.06 crore for the quarter ended March 31, 2023 as compared to Rs 1815.05 crore in the same period last year, registering a year-on-year growth of 25.45 per cent.
Net revenue of the company declined moderately by 12.70 per cent at Rs 5,851.37 crore in January-March quarter of this fiscal as against Rs 6,702.24 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 8.26 per cent to Rs 3,686.00 crore from Rs 4,017.89 crore in year ago period.
Other Income dipped by 103.60 per cent at Rs -11.98 crore versus (Mar'22 Rs 332.55 crore).
Operating Profit slipped by 19.33 per cent to Rs 2,165.37 crore as against Rs 2,684.35 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 7.59 per cent in March quarter.
Interest declined by 53.20 per cent y-o-y to Rs 11.77 crore, while Taxation decreased by 5.31 per cent at Rs 1,008.48 crore (Mar'22 Rs 1,065.01 crore).