The company reported standalone net profit of Rs 4.44 crore for the quarter ended December 31, 2023 as compared to Rs 7.20 crore in the same period last year, registering a year-on-year decline of 38.33 per cent.

Net revenue of the company declined by 0.26 per cent at Rs 108.23 crore in October-December quarter of this fiscal as against Rs 108.51 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 1.78 per cent to Rs 96.76 crore from Rs 95.07 crore in year ago period.

Other Income dipped by 79.75 per cent at Rs 0.16 crore versus (Dec'22 Rs 0.79 crore).

Operating Profit slipped by 14.59 per cent to Rs 11.47 crore as against Rs 13.43 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 14.46 per cent in December quarter.

Interest grew by 35.71 per cent y-o-y to Rs 3.04 crore, while Taxation decreased by 38.96 per cent at Rs 1.52 crore (Dec'22 Rs 2.49 crore).