The company reported standalone net profit of Rs 0.07 crore for the quarter ended December 31, 2023 as compared to Rs 5.78 crore in the same period last year, registering a year-on-year decline of 98.79 per cent.

Net revenue of the company declined substantially by 35.76 per cent at Rs 23.10 crore in October-December quarter of this fiscal as against Rs 35.96 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 16.34 per cent to Rs 21.04 crore from Rs 25.15 crore in year ago period.

Other Income grew by 0.00 per cent at Rs 0.01 crore versus (Dec'22 Rs 0.01 crore).

Operating Profit slipped by 80.94 per cent to Rs 2.06 crore as against Rs 10.81 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 70.37 per cent in December quarter.

Interest declined by 36.97 per cent y-o-y to Rs 0.75 crore, while Taxation decreased by 97.72 per cent at Rs 0.06 crore (Dec'22 Rs 2.63 crore).