The company reported standalone net profit of Rs 6.98 crore for the quarter ended December 31, 2023 as compared to Rs 60.15 crore in the same period last year, registering a year-on-year decline of 88.40 per cent.

Net revenue of the company declined substantially by 38.43 per cent at Rs 1,006.12 crore in October-December quarter of this fiscal as against Rs 1,634.18 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 36.58 per cent to Rs 998.45 crore from Rs 1,574.27 crore in year ago period.

Other Income dipped by 35.56 per cent at Rs 0.29 crore versus (Dec'22 Rs 0.45 crore).

Operating Profit slipped by 87.18 per cent to Rs 7.68 crore as against Rs 59.91 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 79.29 per cent in December quarter.

Taxation increased by 0.00 per cent at Rs 0.81 crore (Dec'22 Rs 0.00 crore).