The company reported standalone net profit of Rs 3.42 crore for the quarter ended December 31, 2023 as compared to Rs 5.64 crore in the same period last year, registering a year-on-year decline of 39.36 per cent.

Net revenue of the company declined moderately by 8.69 per cent at Rs 47.08 crore in October-December quarter of this fiscal as against Rs 51.56 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 4.89 per cent to Rs 42.38 crore from Rs 44.56 crore in year ago period.

Other Income dipped by 45.12 per cent at Rs 0.45 crore versus (Dec'22 Rs 0.82 crore).

Operating Profit slipped by 32.86 per cent to Rs 4.70 crore as against Rs 7.00 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 26.58 per cent in December quarter.

Interest declined by 58.33 per cent y-o-y to Rs 0.05 crore, while Taxation decreased by 25.95 per cent at Rs 1.17 crore (Dec'22 Rs 1.58 crore).