The company reported standalone net profit of Rs 0.01 crore for the quarter ended December 31, 2023 as compared to Rs 1.19 crore in the same period last year, registering a year-on-year decline of 99.16 per cent.

Net revenue of the company declined moderately by 17.12 per cent at Rs 24.40 crore in October-December quarter of this fiscal as against Rs 29.44 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 10.13 per cent to Rs 24.12 crore from Rs 26.84 crore in year ago period.

Other Income grew by 150.00 per cent at Rs 0.05 crore versus (Dec'22 Rs 0.02 crore).

Operating Profit slipped by 88.85 per cent to Rs 0.29 crore as against Rs 2.60 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 86.76 per cent in December quarter.

Interest declined by 7.14 per cent y-o-y to Rs 0.26 crore, while Taxation decreased by 221.28 per cent at Rs -0.57 crore (Dec'22 Rs 0.47 crore).