The company reported standalone net profit of Rs 3.22 crore for the quarter ended September 30, 2023 as compared to Rs 3.08 crore in the same period last year, registering a year-on-year growth of 4.55 per cent.

Net revenue of the company declined substantially by 30.49 per cent at Rs 37.20 crore in July-September quarter of this fiscal as against Rs 53.52 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 30.20 per cent to Rs 31.39 crore from Rs 44.97 crore in year ago period.

Other Income grew by 926.92 per cent at Rs 2.67 crore versus (Sep'22 Rs 0.26 crore).

Operating Profit slipped by 31.97 per cent to Rs 5.81 crore as against Rs 8.54 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 2.19 per cent in September quarter.

Interest grew by 51.08 per cent y-o-y to Rs 2.81 crore, while Taxation decreased by 103.51 per cent at Rs -0.02 crore (Sep'22 Rs 0.57 crore).