The company reported standalone net loss during the quarter stood at Rs 4.59 crore as compared to net loss of Rs 1.60 crore in the previous year quarter.

Net revenue of the company declined substantially by 62.14 per cent at Rs 17.10 crore in October-December quarter of this fiscal as against Rs 45.17 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 56.26 per cent to Rs 18.82 crore from Rs 43.03 crore in year ago period.

Other Income dipped by 128.13 per cent at Rs -0.09 crore versus (Dec'22 Rs 0.32 crore).

Operating Profit slipped by 179.91 per cent to Rs -1.71 crore as against Rs 2.14 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 311.63 per cent in December quarter.

Interest declined by 29.93 per cent y-o-y to Rs 1.99 crore, while Taxation increased by 75.71 per cent at Rs -1.23 crore (Dec'22 Rs -0.70 crore).