The company reported standalone net profit of Rs 0.46 crore for the quarter ended December 31, 2023 as compared to Rs 0.77 crore in the same period last year, registering a year-on-year decline of 40.26 per cent.

Net revenue of the company declined substantially by 23.29 per cent at Rs 6.16 crore in October-December quarter of this fiscal as against Rs 8.03 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 22.76 per cent to Rs 5.43 crore from Rs 7.03 crore in year ago period.

Other Income grew by 233.33 per cent at Rs 0.10 crore versus (Dec'22 Rs 0.03 crore).

Operating Profit slipped by 27.00 per cent to Rs 0.73 crore as against Rs 1.00 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 4.19 per cent in December quarter.

Interest declined by 25.00 per cent y-o-y to Rs 0.09 crore, while Taxation increased by 0.00 per cent at Rs 0.09 crore (Dec'22 Rs 0.00 crore).