The company reported standalone net profit of Rs 0.29 crore for the quarter ended December 31, 2023 as compared to Rs 0.77 crore in the same period last year, registering a year-on-year decline of 62.34 per cent.

Net revenue of the company declined substantially by 26.76 per cent at Rs 22.72 crore in October-December quarter of this fiscal as against Rs 31.02 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 26.81 per cent to Rs 21.46 crore from Rs 29.32 crore in year ago period.

Operating Profit slipped by 25.88 per cent to Rs 1.26 crore as against Rs 1.70 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 1.46 per cent in December quarter.

Interest grew by 38.64 per cent y-o-y to Rs 0.61 crore, while Taxation decreased by 57.14 per cent at Rs 0.09 crore (Dec'22 Rs 0.21 crore).