The company reported standalone net profit of Rs 10.67 crore for the quarter ended December 31, 2023 as compared to Rs 13.95 crore in the same period last year, registering a year-on-year decline of 23.51 per cent.

Net revenue of the company declined marginally by 2.49 per cent at Rs 124.21 crore in October-December quarter of this fiscal as against Rs 127.38 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 4.86 per cent to Rs 95.33 crore from Rs 90.91 crore in year ago period.

Other Income grew by 48.24 per cent at Rs 1.26 crore versus (Dec'22 Rs 0.85 crore).

Operating Profit slipped by 20.79 per cent to Rs 28.88 crore as against Rs 36.46 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 18.76 per cent in December quarter.

Interest declined by 12.43 per cent y-o-y to Rs 4.72 crore, while Taxation decreased by 35.15 per cent at Rs 3.69 crore (Dec'22 Rs 5.69 crore).