The company reported standalone net profit of Rs 0.07 crore for the quarter ended December 31, 2023 as compared to Rs 4.61 crore in the same period last year, registering a year-on-year decline of 98.48 per cent.

Net revenue of the company declined substantially by 74.79 per cent at Rs 27.99 crore in October-December quarter of this fiscal as against Rs 111.03 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 73.68 per cent to Rs 27.44 crore from Rs 104.25 crore in year ago period.

Operating Profit slipped by 92.04 per cent to Rs 0.54 crore as against Rs 6.78 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 68.25 per cent in December quarter.

Interest declined by 18.18 per cent y-o-y to Rs 0.45 crore, while Taxation decreased by 98.77 per cent at Rs 0.02 crore (Dec'22 Rs 1.62 crore).