Operating profit plummeted 84.7% to $40.5 million.
Spokesperson confirms the cost cutting does not include additional staff reductions.
For Tmall's March quarter, sales slumps in major categories like apparel and accessories were offset by a rise in sales of daily necessities.
But diluted net income per share rose two cents, or 1.7 percent, to $1.19 compared to $1.17 for the first quarter of 2019.
However, company still experienced significant decline in March as online ad sector reels from crisis.
"With more than 95% of our employees working from home, we continue to move the business forward."
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