The company reported standalone net profit of Rs 13.63 crore for the quarter ended December 31, 2023 as compared to Rs 15.02 crore in the same period last year, registering a year-on-year decline of 9.25 per cent.

Net revenue of the company declined moderately by 7.08 per cent at Rs 51.81 crore in October-December quarter of this fiscal as against Rs 55.76 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 6.64 per cent to Rs 33.03 crore from Rs 35.38 crore in year ago period.

Other Income grew by 146.77 per cent at Rs 3.06 crore versus (Dec'22 Rs 1.24 crore).

Operating Profit slipped by 7.85 per cent to Rs 18.78 crore as against Rs 20.38 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 0.85 per cent in December quarter.

Interest declined by 50.00 per cent y-o-y to Rs 0.02 crore, while Taxation decreased by 2.67 per cent at Rs 4.73 crore (Dec'22 Rs 4.86 crore).