The company reported standalone net profit of Rs 1.16 crore for the quarter ended December 31, 2023 as compared to Rs 4.92 crore in the same period last year, registering a year-on-year decline of 76.42 per cent.

Net revenue of the company declined substantially by 37.39 per cent at Rs 14.15 crore in October-December quarter of this fiscal as against Rs 22.60 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 25.47 per cent to Rs 12.64 crore from Rs 16.96 crore in year ago period.

Other Income dipped by 50.68 per cent at Rs 0.36 crore versus (Dec'22 Rs 0.73 crore).

Operating Profit slipped by 73.40 per cent to Rs 1.50 crore as against Rs 5.64 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 57.41 per cent in December quarter.

Interest grew by 0.00 per cent y-o-y to Rs 0.05 crore, while Taxation decreased by 58.52 per cent at Rs 0.56 crore (Dec'22 Rs 1.35 crore).