The company reported standalone net profit of Rs 15.86 crore for the quarter ended March 31, 2024 as compared to Rs 17.39 crore in the same period last year, registering a year-on-year decline of 8.80 per cent.

Net revenue of the company declined moderately by 13.42 per cent at Rs 139.52 crore in January-March quarter of this fiscal as against Rs 161.14 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 14.02 per cent to Rs 113.45 crore from Rs 131.95 crore in year ago period.

Other Income grew by 2.44 per cent at Rs 0.42 crore versus (Mar'23 Rs 0.41 crore).

Operating Profit slipped by 10.69 per cent to Rs 26.07 crore as against Rs 29.19 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 3.20 per cent in March quarter.

Interest grew by 0.31 per cent y-o-y to Rs 3.23 crore, while Taxation decreased by 17.74 per cent at Rs 5.24 crore (Mar'23 Rs 6.37 crore).