The company reported standalone net profit of Rs 2.03 crore for the quarter ended December 31, 2023 as compared to Rs 7.92 crore in the same period last year, registering a year-on-year decline of 74.37 per cent.

Net revenue of the company declined substantially by 29.69 per cent at Rs 42.27 crore in October-December quarter of this fiscal as against Rs 60.12 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 19.66 per cent to Rs 38.54 crore from Rs 47.97 crore in year ago period.

Other Income grew by 11.11 per cent at Rs 0.10 crore versus (Dec'22 Rs 0.09 crore).

Operating Profit slipped by 69.30 per cent to Rs 3.73 crore as against Rs 12.15 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 56.31 per cent in December quarter.

Interest declined by 35.11 per cent y-o-y to Rs 0.85 crore, while Taxation decreased by 74.91 per cent at Rs 0.69 crore (Dec'22 Rs 2.75 crore).