The company reported standalone net profit of Rs 16.33 crore for the quarter ended March 31, 2024 as compared to Rs 17.79 crore in the same period last year, registering a year-on-year decline of 8.21 per cent.

Net revenue of the company declined marginally by 3.56 per cent at Rs 107.21 crore in January-March quarter of this fiscal as against Rs 111.17 crore in the corresponding period last year.

During January-March quarter, operating expenses increased by 1.50 per cent to Rs 80.59 crore from Rs 79.40 crore in year ago period.

Other Income dipped by 19.82 per cent at Rs 3.52 crore versus (Mar'23 Rs 4.39 crore).

Operating Profit slipped by 16.21 per cent to Rs 26.62 crore as against Rs 31.77 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 13.12 per cent in March quarter.

Interest declined by 34.74 per cent y-o-y to Rs 3.10 crore, while Taxation decreased by 42.66 per cent at Rs 4.49 crore (Mar'23 Rs 7.83 crore).