The company reported standalone net profit of Rs 5.66 crore for the quarter ended March 31, 2024 as compared to Rs 12.32 crore in the same period last year, registering a year-on-year decline of 54.06 per cent.

Net revenue of the company declined substantially by 41.44 per cent at Rs 16.18 crore in January-March quarter of this fiscal as against Rs 27.63 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 18.82 per cent to Rs 9.92 crore from Rs 12.22 crore in year ago period.

Other Income grew by 32.56 per cent at Rs 1.71 crore versus (Mar'23 Rs 1.29 crore).

Operating Profit slipped by 59.40 per cent to Rs 6.26 crore as against Rs 15.42 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 30.72 per cent in March quarter.

Taxation decreased by 53.01 per cent at Rs 1.95 crore (Mar'23 Rs 4.15 crore).