The company reported standalone net profit of Rs 11.68 crore for the quarter ended March 31, 2024 as compared to Rs 27.81 crore in the same period last year, registering a year-on-year decline of 58.00 per cent.

Net revenue of the company declined substantially by 24.50 per cent at Rs 278.13 crore in January-March quarter of this fiscal as against Rs 368.40 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 22.80 per cent to Rs 247.37 crore from Rs 320.42 crore in year ago period.

Other Income grew by 455.42 per cent at Rs 4.61 crore versus (Mar'23 Rs 0.83 crore).

Operating Profit slipped by 35.90 per cent to Rs 30.76 crore as against Rs 47.99 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 15.12 per cent in March quarter.

Interest grew by 64.25 per cent y-o-y to Rs 12.68 crore, while Taxation decreased by 36.46 per cent at Rs 4.20 crore (Mar'23 Rs 6.61 crore).