The company reported standalone net profit of Rs 12.33 crore for the quarter ended December 31, 2023 as compared to Rs 16.53 crore in the same period last year, registering a year-on-year decline of 25.41 per cent.

Net revenue of the company declined marginally by 1.30 per cent at Rs 139.64 crore in October-December quarter of this fiscal as against Rs 141.48 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 5.02 per cent to Rs 119.93 crore from Rs 114.20 crore in year ago period.

Other Income dipped by 5.24 per cent at Rs 1.99 crore versus (Dec'22 Rs 2.10 crore).

Operating Profit slipped by 27.75 per cent to Rs 19.71 crore as against Rs 27.28 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 26.82 per cent in December quarter.

Interest grew by 41.43 per cent y-o-y to Rs 0.99 crore, while Taxation decreased by 25.18 per cent at Rs 4.22 crore (Dec'22 Rs 5.64 crore).