₹52.78 crore for the quarter ended 31 March on account of subdued demand in the country and abroad. The company had reported a net profit of ₹33.66 crore in the corresponding period last fiscal.Revenue from operations declined a sharp 33.6% year-on-year to ₹1794.76 crore.
Operating profit or earnings before interest, tax, depreciation and amortization (Ebitda) declined significantly by 20.41% to ₹215.75 crore due to the overall decline in the topline.Vehicle manufacturers and their component suppliers had to close their factories from 22 March, following the lockdown announced by the Union and state governments to contain the spread of the covid-19 pandemic.