The company reported standalone net profit of Rs 1.28 crore for the quarter ended December 31, 2023 as compared to Rs 1.90 crore in the same period last year, registering a year-on-year decline of 32.63 per cent.

Net revenue of the company rose moderately by 8.56 per cent at Rs 22.57 crore in October-December quarter of this fiscal as against Rs 20.79 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 13.12 per cent to Rs 19.74 crore from Rs 17.45 crore in year ago period.

Other Income grew by 76.19 per cent at Rs 0.37 crore versus (Dec'22 Rs 0.21 crore).

Operating Profit slipped by 15.27 per cent to Rs 2.83 crore as against Rs 3.34 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 22.04 per cent in December quarter.

Interest grew by 4.65 per cent y-o-y to Rs 0.45 crore, while Taxation decreased by 33.85 per cent at Rs 0.43 crore (Dec'22 Rs 0.65 crore).