The company reported standalone net profit of Rs 6.98 crore for the quarter ended December 31, 2023 as compared to Rs 9.90 crore in the same period last year, registering a year-on-year decline of 29.49 per cent.

Net revenue of the company declined substantially by 59.18 per cent at Rs 31.52 crore in October-December quarter of this fiscal as against Rs 77.22 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 62.15 per cent to Rs 19.92 crore from Rs 52.63 crore in year ago period.

Other Income dipped by 19.66 per cent at Rs 0.94 crore versus (Dec'22 Rs 1.17 crore).

Operating Profit slipped by 52.83 per cent to Rs 11.60 crore as against Rs 24.59 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 15.55 per cent in December quarter.

Interest declined by 48.73 per cent y-o-y to Rs 1.41 crore, while Taxation decreased by 82.84 per cent at Rs 1.34 crore (Dec'22 Rs 7.81 crore).