The company reported standalone net profit of Rs 14.08 crore for the quarter ended December 31, 2023 as compared to Rs 24.72 crore in the same period last year, registering a year-on-year decline of 43.04 per cent.

Net revenue of the company declined substantially by 24.51 per cent at Rs 148.32 crore in October-December quarter of this fiscal as against Rs 196.47 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 21.80 per cent to Rs 120.64 crore from Rs 154.28 crore in year ago period.

Other Income grew by 20.57 per cent at Rs 4.63 crore versus (Dec'22 Rs 3.84 crore).

Operating Profit slipped by 34.38 per cent to Rs 27.68 crore as against Rs 42.18 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 13.09 per cent in December quarter.

Interest declined by 24.69 per cent y-o-y to Rs 3.69 crore, while Taxation decreased by 27.50 per cent at Rs 5.88 crore (Dec'22 Rs 8.11 crore).