The company reported standalone net profit of Rs 0.80 crore for the quarter ended December 31, 2023 as compared to Rs 0.99 crore in the same period last year, registering a year-on-year decline of 19.19 per cent.

Net revenue of the company declined substantially by 26.99 per cent at Rs 41.12 crore in October-December quarter of this fiscal as against Rs 56.32 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 28.57 per cent to Rs 37.88 crore from Rs 53.03 crore in year ago period.

Other Income grew by 14.29 per cent at Rs 0.32 crore versus (Dec'22 Rs 0.28 crore).

Operating Profit slipped by 1.22 per cent to Rs 3.25 crore as against Rs 3.29 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 34.87 per cent in December quarter.

Interest declined by 3.15 per cent y-o-y to Rs 1.23 crore, while Taxation decreased by 7.14 per cent at Rs 0.39 crore (Dec'22 Rs 0.42 crore).