The company reported standalone net profit of Rs 3.04 crore for the quarter ended December 31, 2023 as compared to Rs 4.66 crore in the same period last year, registering a year-on-year decline of 34.76 per cent.

Net revenue of the company declined by 0.97 per cent at Rs 37.64 crore in October-December quarter of this fiscal as against Rs 38.01 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 7.29 per cent to Rs 30.74 crore from Rs 28.65 crore in year ago period.

Other Income dipped by 20.83 per cent at Rs 0.38 crore versus (Dec'22 Rs 0.48 crore).

Operating Profit slipped by 26.28 per cent to Rs 6.90 crore as against Rs 9.36 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 25.58 per cent in December quarter.

Interest declined by 6.10 per cent y-o-y to Rs 0.77 crore, while Taxation decreased by 39.53 per cent at Rs 1.30 crore (Dec'22 Rs 2.15 crore).