The company reported standalone net profit of Rs 1.71 crore for the quarter ended December 31, 2023 as compared to Rs 2.95 crore in the same period last year, registering a year-on-year decline of 42.03 per cent.

Net revenue of the company rose substantially by 30.43 per cent at Rs 82.86 crore in October-December quarter of this fiscal as against Rs 63.53 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 34.47 per cent to Rs 79.97 crore from Rs 59.47 crore in year ago period.

Other Income dipped by 32.75 per cent at Rs 1.15 crore versus (Dec'22 Rs 1.71 crore).

Operating Profit slipped by 28.82 per cent to Rs 2.89 crore as against Rs 4.06 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 45.38 per cent in December quarter.

Interest grew by 108.00 per cent y-o-y to Rs 1.04 crore, while Taxation decreased by 95.97 per cent at Rs 0.05 crore (Dec'22 Rs 1.24 crore).