The company reported standalone net profit of Rs 46.56 crore for the quarter ended March 31, 2024 as compared to Rs 59.19 crore in the same period last year, registering a year-on-year decline of 21.34 per cent.

Net revenue of the company declined substantially by 21.33 per cent at Rs 252.48 crore in January-March quarter of this fiscal as against Rs 320.92 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 23.30 per cent to Rs 185.04 crore from Rs 241.26 crore in year ago period.

Other Income dipped by 54.33 per cent at Rs 2.27 crore versus (Mar'23 Rs 4.97 crore).

Operating Profit slipped by 15.34 per cent to Rs 67.44 crore as against Rs 79.66 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 7.61 per cent in March quarter.

Interest declined by 28.57 per cent y-o-y to Rs 0.15 crore, while Taxation decreased by 16.44 per cent at Rs 16.16 crore (Mar'23 Rs 19.34 crore).