The company reported standalone net profit of Rs 1.76 crore for the quarter ended December 31, 2023 as compared to Rs 6.44 crore in the same period last year, registering a year-on-year decline of 72.67 per cent.

Net revenue of the company declined substantially by 36.67 per cent at Rs 65.79 crore in October-December quarter of this fiscal as against Rs 103.89 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 34.00 per cent to Rs 56.75 crore from Rs 85.99 crore in year ago period.

Other Income dipped by 20.92 per cent at Rs 3.10 crore versus (Dec'22 Rs 3.92 crore).

Operating Profit slipped by 49.50 per cent to Rs 9.04 crore as against Rs 17.90 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 20.26 per cent in December quarter.

Interest grew by 11.48 per cent y-o-y to Rs 6.31 crore, while Taxation decreased by 86.28 per cent at Rs 1.07 crore (Dec'22 Rs 7.80 crore).