The company reported standalone net profit of Rs 1.50 crore for the quarter ended December 31, 2023 as compared to Rs 1.48 crore in the same period last year, registering a year-on-year growth of 1.35 per cent.

Net revenue of the company declined marginally by 3.65 per cent at Rs 41.16 crore in October-December quarter of this fiscal as against Rs 42.72 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 2.42 per cent to Rs 39.17 crore from Rs 40.14 crore in year ago period.

Other Income grew by 18.06 per cent at Rs 0.85 crore versus (Dec'22 Rs 0.72 crore).

Operating Profit slipped by 22.57 per cent to Rs 1.99 crore as against Rs 2.57 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 19.90 per cent in December quarter.

Interest declined by 62.35 per cent y-o-y to Rs 0.32 crore, while Taxation increased by 2.00 per cent at Rs 0.51 crore (Dec'22 Rs 0.50 crore).