The company reported standalone net profit of Rs 3.41 crore for the quarter ended December 31, 2023 as compared to Rs 5.59 crore in the same period last year, registering a year-on-year decline of 39.00 per cent.

Net revenue of the company declined marginally by 2.66 per cent at Rs 17.56 crore in October-December quarter of this fiscal as against Rs 18.04 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 15.54 per cent to Rs 13.01 crore from Rs 11.26 crore in year ago period.

Other Income grew by 29.17 per cent at Rs 0.93 crore versus (Dec'22 Rs 0.72 crore).

Operating Profit slipped by 32.89 per cent to Rs 4.55 crore as against Rs 6.78 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 30.96 per cent in December quarter.

Taxation increased by 7.75 per cent at Rs 1.39 crore (Dec'22 Rs 1.29 crore).