The company reported standalone net profit of Rs 2.25 crore for the quarter ended December 31, 2023 as compared to Rs 5.49 crore in the same period last year, registering a year-on-year decline of 59.02 per cent.

Net revenue of the company declined marginally by 2.24 per cent at Rs 70.21 crore in October-December quarter of this fiscal as against Rs 71.82 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 2.41 per cent to Rs 63.73 crore from Rs 62.23 crore in year ago period.

Other Income dipped by 42.70 per cent at Rs 1.06 crore versus (Dec'22 Rs 1.85 crore).

Operating Profit slipped by 32.43 per cent to Rs 6.48 crore as against Rs 9.59 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 30.91 per cent in December quarter.

Interest grew by 4.64 per cent y-o-y to Rs 1.58 crore, while Taxation decreased by 61.54 per cent at Rs 0.60 crore (Dec'22 Rs 1.56 crore).