The company reported standalone net profit of Rs 2.22 crore for the quarter ended December 31, 2023 as compared to Rs 4.45 crore in the same period last year, registering a year-on-year decline of 50.11 per cent.

Net revenue of the company rose substantially by 28.40 per cent at Rs 81.56 crore in October-December quarter of this fiscal as against Rs 63.52 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 36.71 per cent to Rs 77.27 crore from Rs 56.52 crore in year ago period.

Other Income dipped by 39.39 per cent at Rs 0.20 crore versus (Dec'22 Rs 0.33 crore).

Operating Profit slipped by 38.86 per cent to Rs 4.28 crore as against Rs 7.00 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 52.32 per cent in December quarter.

Interest grew by 5.26 per cent y-o-y to Rs 0.60 crore, while Taxation decreased by 47.95 per cent at Rs 0.76 crore (Dec'22 Rs 1.46 crore).