The company reported standalone net profit of Rs 2.03 crore for the quarter ended December 31, 2023 as compared to Rs 6.88 crore in the same period last year, registering a year-on-year decline of 70.49 per cent.

Net revenue of the company declined moderately by 8.11 per cent at Rs 113.57 crore in October-December quarter of this fiscal as against Rs 123.60 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 4.00 per cent to Rs 106.36 crore from Rs 110.79 crore in year ago period.

Other Income grew by 54.67 per cent at Rs 1.16 crore versus (Dec'22 Rs 0.75 crore).

Operating Profit slipped by 43.72 per cent to Rs 7.21 crore as against Rs 12.81 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 38.71 per cent in December quarter.

Interest grew by 63.08 per cent y-o-y to Rs 2.12 crore, while Taxation decreased by 70.69 per cent at Rs 0.68 crore (Dec'22 Rs 2.32 crore).