The company reported standalone net profit of Rs 41.63 crore for the quarter ended March 31, 2024 as compared to Rs 153.53 crore in the same period last year, registering a year-on-year decline of 72.88 per cent.

Net revenue of the company declined substantially by 21.21 per cent at Rs 224.16 crore in January-March quarter of this fiscal as against Rs 284.52 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 8.91 per cent to Rs 227.72 crore from Rs 250.00 crore in year ago period.

Other Income grew by 103.90 per cent at Rs 55.46 crore versus (Mar'23 Rs 27.20 crore).

Operating Profit slipped by 110.31 per cent to Rs -3.56 crore as against Rs 34.52 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 113.11 per cent in March quarter.

Interest grew by 8.47 per cent y-o-y to Rs 0.64 crore, while Taxation decreased by 93.03 per cent at Rs -7.78 crore (Mar'23 Rs -111.64 crore).