The company reported standalone net profit of Rs 0.17 crore for the quarter ended December 31, 2023 as compared to Rs 0.30 crore in the same period last year, registering a year-on-year decline of 43.33 per cent.

Net revenue of the company declined substantially by 45.73 per cent at Rs 23.27 crore in October-December quarter of this fiscal as against Rs 42.88 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 45.77 per cent to Rs 23.02 crore from Rs 42.45 crore in year ago period.

Operating Profit slipped by 41.86 per cent to Rs 0.25 crore as against Rs 0.43 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 5.94 per cent in December quarter.

Taxation decreased by 33.33 per cent at Rs 0.04 crore (Dec'22 Rs 0.06 crore).