The company faced a challenge as it had to account for a write-off of Rs 455 crore, which was related to the MAT credit from the transition to the new tax regime. This had an impact on the overall profit.
In terms of revenue, the company performed strongly, with its operations generating Rs 6,646.41 crore. This represents a robust increase of 27.55 percent compared to the same quarter in the previous year, as indicated in the company’s official exchange filing.
While the operating margin for the quarter was noted at 58 percent, it marked a YoY decrease from the previous 63 percent. The net profit margin also experienced a decline, standing at 27 percent, down from the prior 33 percent, according to the company’s report.
For the first half of 2023-24, the company achieved a significant revenue increase of 26 percent YoY, amounting to Rs 12,894 crore. Additionally, EBITDA surged by 49 percent YoY to Rs 7,429 crore. This is indicative of the company’s strong performance in the first half of the fiscal year.
