The company reported standalone net profit of Rs 0.89 crore for the quarter ended December 31, 2023 as compared to Rs 1.67 crore in the same period last year, registering a year-on-year decline of 46.71 per cent.

Net revenue of the company declined substantially by 35.01 per cent at Rs 19.27 crore in October-December quarter of this fiscal as against Rs 29.65 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 36.48 per cent to Rs 17.17 crore from Rs 27.03 crore in year ago period.

Other Income dipped by 32.26 per cent at Rs 0.21 crore versus (Dec'22 Rs 0.31 crore).

Operating Profit slipped by 20.23 per cent to Rs 2.09 crore as against Rs 2.62 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 23.10 per cent in December quarter.

Interest grew by 148.65 per cent y-o-y to Rs 0.92 crore, while Taxation decreased by 50.00 per cent at Rs 0.43 crore (Dec'22 Rs 0.86 crore).