• The operating profit was down by 6% hit by 320 bps contraction in operating profit margin to 48.9% on flat sales. Fall in OPM was largely due to higher fuel cost as well as other expenses. While cost of fuel as proportion to sales was higher by 250 bps to 38.1% that of OE was up by 80 bps to 11.1%. Employee cost though stood lower by 10 bps that is not good enough to offset the rise in fuel and OE expenses.
• Other income was down by 2% to Rs 94.97 crore. The interest cost was down by 4% to Rs 695.73 crore and depreciation was up by 6% to Rs 199.31 crore. Thus the de-growth at PBT was lower by 16% to Rs 316.61 crore.
• The taxation for the quarter was lower by 38% to Rs 64.71 crore. Thus the fall at PAT eventually restricted to 8% to Rs 251.90 crore.
• Profit from discontinuing business was up by 38% to Rs 1.02 crore and thus the net profit was down by 7% to Rs 252.92 crore. With other comprehensive income net of tax jump by 606% to Rs 112.20 crore, the net profit (total comprehensive income)was up by 26% to Rs 365.12 crore.

Half yearly performance

Sales were lower by 7% to Rs 4567.88 crore. But with 40 bps expansion in OPM, the OP was down by 6% to Rs 2205.59 crore. After accounting for lower other income, lower interest cost and higher depreciation, the PBT was lower by 13% Rs 612.57 crore. Eventually the PAT was down by 3% to Rs 488.20 crore as the taxation stand lower by sharp 38% to Rs 124.37 crore.