The company reported standalone net profit of Rs 3.09 crore for the quarter ended December 31, 2023 as compared to Rs 3.34 crore in the same period last year, registering a year-on-year decline of 7.49 per cent.

Net revenue of the company declined substantially by 20.05 per cent at Rs 39.20 crore in October-December quarter of this fiscal as against Rs 49.03 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 16.94 per cent to Rs 38.44 crore from Rs 46.28 crore in year ago period.

Other Income grew by 92.63 per cent at Rs 3.66 crore versus (Dec'22 Rs 1.90 crore).

Operating Profit slipped by 72.36 per cent to Rs 0.76 crore as against Rs 2.75 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 65.42 per cent in December quarter.

Taxation decreased by 1.16 per cent at Rs 0.85 crore (Dec'22 Rs 0.86 crore).