The company reported standalone net profit of Rs 0.31 crore for the quarter ended December 31, 2023 as compared to Rs 0.44 crore in the same period last year, registering a year-on-year decline of 29.55 per cent.

Net revenue of the company declined by 5.31 per cent at Rs 64.01 crore in October-December quarter of this fiscal as against Rs 67.60 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 5.12 per cent to Rs 62.39 crore from Rs 65.76 crore in year ago period.

Other Income dipped by 20.00 per cent at Rs 0.04 crore versus (Dec'22 Rs 0.05 crore).

Operating Profit slipped by 11.96 per cent to Rs 1.62 crore as against Rs 1.84 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 6.62 per cent in December quarter.

Interest declined by 8.00 per cent y-o-y to Rs 0.69 crore, while Taxation decreased by 26.67 per cent at Rs 0.11 crore (Dec'22 Rs 0.15 crore).