The company reported standalone net profit of Rs 0.91 crore for the quarter ended December 31, 2023 as compared to Rs 1.81 crore in the same period last year, registering a year-on-year decline of 49.72 per cent.

Net revenue of the company declined substantially by 28.80 per cent at Rs 60.75 crore in October-December quarter of this fiscal as against Rs 85.32 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 30.67 per cent to Rs 56.06 crore from Rs 80.86 crore in year ago period.

Other Income dipped by 94.12 per cent at Rs 0.09 crore versus (Dec'22 Rs 1.53 crore).

Operating Profit surged by 5.16 per cent to Rs 4.69 crore as against Rs 4.46 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 48.08 per cent in December quarter.

Interest declined by 1.23 per cent y-o-y to Rs 2.40 crore, while Taxation decreased by 55.71 per cent at Rs 0.31 crore (Dec'22 Rs 0.70 crore).