The company reported standalone net profit of Rs 0.16 crore for the quarter ended December 31, 2023 as compared to Rs 0.25 crore in the same period last year, registering a year-on-year decline of 36.00 per cent.

Net revenue of the company rose substantially by 65.20 per cent at Rs 8,461.45 crore in October-December quarter of this fiscal as against Rs 5,121.91 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 65.22 per cent to Rs 8,458.59 crore from Rs 5,119.71 crore in year ago period.

Operating Profit surged by 30.00 per cent to Rs 2.86 crore as against Rs 2.20 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 25.00 per cent in December quarter.

Interest grew by 5.07 per cent y-o-y to Rs 2.28 crore, while Taxation decreased by 44.44 per cent at Rs 0.05 crore (Dec'22 Rs 0.09 crore).