The company reported standalone net profit of Rs 1.13 crore for the quarter ended December 31, 2023 as compared to Rs 4.09 crore in the same period last year, registering a year-on-year decline of 72.37 per cent.

Net revenue of the company declined substantially by 34.97 per cent at Rs 70.43 crore in October-December quarter of this fiscal as against Rs 108.31 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 27.73 per cent to Rs 74.60 crore from Rs 103.22 crore in year ago period.

Other Income grew by 7862.50 per cent at Rs 6.37 crore versus (Dec'22 Rs 0.08 crore).

Operating Profit slipped by 181.93 per cent to Rs -4.17 crore as against Rs 5.09 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 226.17 per cent in December quarter.