The company reported standalone net profit of Rs 10.54 crore for the quarter ended September 30, 2023 as compared to Rs 38.20 crore in the same period last year, registering a year-on-year decline of 72.41 per cent.

Net revenue of the company declined substantially by 20.06 per cent at Rs 807.57 crore in July-September quarter of this fiscal as against Rs 1,010.21 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 19.30 per cent to Rs 741.47 crore from Rs 918.75 crore in year ago period.

Other Income dipped by 32.21 per cent at Rs 7.64 crore versus (Sep'22 Rs 11.27 crore).

Operating Profit slipped by 27.73 per cent to Rs 66.10 crore as against Rs 91.46 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 9.50 per cent in September quarter.

Interest grew by 26.38 per cent y-o-y to Rs 32.53 crore, while Taxation decreased by 70.81 per cent at Rs 3.92 crore (Sep'22 Rs 13.43 crore).