The company reported standalone net profit of Rs 4.18 crore for the quarter ended March 31, 2024 as compared to Rs 7.71 crore in the same period last year, registering a year-on-year decline of 45.78 per cent.

Net revenue of the company declined marginally by 1.90 per cent at Rs 55.21 crore in January-March quarter of this fiscal as against Rs 56.28 crore in the corresponding period last year.

During January-March quarter, operating expenses increased by 9.52 per cent to Rs 46.34 crore from Rs 42.31 crore in year ago period.

Other Income grew by 6.67 per cent at Rs 0.64 crore versus (Mar'23 Rs 0.60 crore).

Operating Profit slipped by 36.51 per cent to Rs 8.87 crore as against Rs 13.97 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 35.25 per cent in March quarter.

Interest declined by 41.11 per cent y-o-y to Rs 0.53 crore, while Taxation decreased by 53.80 per cent at Rs 1.40 crore (Mar'23 Rs 3.03 crore).