The company reported standalone net profit of Rs 0.54 crore for the quarter ended December 31, 2023 as compared to Rs 2.34 crore in the same period last year, registering a year-on-year decline of 76.92 per cent.

Net revenue of the company declined moderately by 16.74 per cent at Rs 80.79 crore in October-December quarter of this fiscal as against Rs 97.03 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 17.16 per cent to Rs 73.61 crore from Rs 88.86 crore in year ago period.

Other Income dipped by 65.88 per cent at Rs 0.58 crore versus (Dec'22 Rs 1.70 crore).

Operating Profit slipped by 12.01 per cent to Rs 7.18 crore as against Rs 8.16 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 5.71 per cent in December quarter.

Interest grew by 5.35 per cent y-o-y to Rs 4.53 crore, while Taxation decreased by 70.73 per cent at Rs 0.24 crore (Dec'22 Rs 0.82 crore).