The company reported standalone net profit of Rs 1.17 crore for the quarter ended December 31, 2023 as compared to Rs 3.27 crore in the same period last year, registering a year-on-year decline of 64.22 per cent.

Net revenue of the company declined substantially by 23.55 per cent at Rs 114.98 crore in October-December quarter of this fiscal as against Rs 150.40 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 24.00 per cent to Rs 108.36 crore from Rs 142.58 crore in year ago period.

Other Income dipped by 94.59 per cent at Rs 0.02 crore versus (Dec'22 Rs 0.37 crore).

Operating Profit slipped by 15.35 per cent to Rs 6.62 crore as against Rs 7.82 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 10.77 per cent in December quarter.

Interest grew by 25.66 per cent y-o-y to Rs 3.33 crore, while Taxation decreased by 23.73 per cent at Rs 0.45 crore (Dec'22 Rs 0.59 crore).