The company reported standalone net profit of Rs 0.59 crore for the quarter ended December 31, 2023 as compared to Rs 9.00 crore in the same period last year, registering a year-on-year decline of 93.44 per cent.

Net revenue of the company declined substantially by 27.84 per cent at Rs 35.27 crore in October-December quarter of this fiscal as against Rs 48.88 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 22.32 per cent to Rs 32.82 crore from Rs 42.25 crore in year ago period.

Other Income dipped by 67.00 per cent at Rs 0.66 crore versus (Dec'22 Rs 2.00 crore).

Operating Profit slipped by 63.05 per cent to Rs 2.45 crore as against Rs 6.63 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 48.75 per cent in December quarter.

Interest declined by 25.40 per cent y-o-y to Rs 0.47 crore, while Taxation increased by 0.00 per cent at Rs -0.30 crore (Dec'22 Rs 0.00 crore).