The company reported standalone net profit of Rs 1.11 crore for the quarter ended December 31, 2023 as compared to Rs 1.29 crore in the same period last year, registering a year-on-year decline of 13.95 per cent.

Net revenue of the company declined substantially by 31.88 per cent at Rs 20.73 crore in October-December quarter of this fiscal as against Rs 30.43 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 56.55 per cent to Rs 19.62 crore from Rs 45.16 crore in year ago period.

Other Income dipped by 96.02 per cent at Rs 0.90 crore versus (Dec'22 Rs 22.63 crore).

Operating Profit surged by 107.60 per cent to Rs 1.12 crore as against Rs -14.73 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 111.14 per cent in December quarter.

Interest declined by 59.26 per cent y-o-y to Rs 0.66 crore, while Taxation decreased by 95.74 per cent at Rs 0.21 crore (Dec'22 Rs 4.93 crore).