The company reported standalone net profit of Rs 0.67 crore for the quarter ended December 31, 2023 as compared to Rs 1.02 crore in the same period last year, registering a year-on-year decline of 34.31 per cent.

Net revenue of the company declined substantially by 27.65 per cent at Rs 38.99 crore in October-December quarter of this fiscal as against Rs 53.89 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 30.93 per cent to Rs 32.72 crore from Rs 47.37 crore in year ago period.

Other Income grew by 14.29 per cent at Rs 0.08 crore versus (Dec'22 Rs 0.07 crore).

Operating Profit slipped by 3.83 per cent to Rs 6.27 crore as against Rs 6.52 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 32.98 per cent in December quarter.

Interest declined by 6.20 per cent y-o-y to Rs 3.48 crore, while Taxation increased by 160.47 per cent at Rs 0.26 crore (Dec'22 Rs -0.43 crore).