The company reported standalone net profit of Rs 7.85 crore for the quarter ended December 31, 2023 as compared to Rs 12.03 crore in the same period last year, registering a year-on-year decline of 34.75 per cent.

Net revenue of the company rose marginally by 4.12 per cent at Rs 401.34 crore in October-December quarter of this fiscal as against Rs 385.47 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 5.95 per cent to Rs 372.92 crore from Rs 351.98 crore in year ago period.

Other Income grew by 125.81 per cent at Rs 0.70 crore versus (Dec'22 Rs 0.31 crore).

Operating Profit slipped by 15.14 per cent to Rs 28.42 crore as against Rs 33.49 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 18.53 per cent in December quarter.

Interest grew by 10.95 per cent y-o-y to Rs 10.23 crore, while Taxation decreased by 28.06 per cent at Rs 3.00 crore (Dec'22 Rs 4.17 crore).