The company reported standalone net profit of Rs 10.08 crore for the quarter ended December 31, 2023 as compared to Rs 16.81 crore in the same period last year, registering a year-on-year decline of 40.04 per cent.

Net revenue of the company declined substantially by 30.98 per cent at Rs 82.16 crore in October-December quarter of this fiscal as against Rs 119.04 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 31.29 per cent to Rs 68.66 crore from Rs 99.93 crore in year ago period.

Other Income dipped by 2.33 per cent at Rs 1.68 crore versus (Dec'22 Rs 1.72 crore).

Operating Profit slipped by 29.36 per cent to Rs 13.50 crore as against Rs 19.11 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 2.43 per cent in December quarter.

Interest grew by 162.50 per cent y-o-y to Rs 0.42 crore, while Taxation increased by 23.42 per cent at Rs 4.48 crore (Dec'22 Rs 3.63 crore).