The company reported standalone net profit of Rs 0.04 crore for the quarter ended December 31, 2023 as compared to Rs 0.77 crore in the same period last year, registering a year-on-year decline of 94.81 per cent.

Net revenue of the company declined moderately by 18.49 per cent at Rs 48.90 crore in October-December quarter of this fiscal as against Rs 59.99 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 18.19 per cent to Rs 46.09 crore from Rs 56.34 crore in year ago period.

Other Income dipped by 42.50 per cent at Rs 0.23 crore versus (Dec'22 Rs 0.40 crore).

Operating Profit slipped by 23.01 per cent to Rs 2.81 crore as against Rs 3.65 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 5.75 per cent in December quarter.

Interest declined by 1.42 per cent y-o-y to Rs 1.39 crore, while Taxation decreased by 91.67 per cent at Rs 0.02 crore (Dec'22 Rs 0.24 crore).