The company reported standalone net profit of Rs 8.84 crore for the quarter ended March 31, 2024 as compared to Rs 28.97 crore in the same period last year, registering a year-on-year decline of 69.49 per cent.

Net revenue of the company rose moderately by 6.37 per cent at Rs 199.65 crore in January-March quarter of this fiscal as against Rs 187.69 crore in the corresponding period last year.

During January-March quarter, operating expenses increased by 29.83 per cent to Rs 189.86 crore from Rs 146.24 crore in year ago period.

Other Income grew by 201.74 per cent at Rs 8.66 crore versus (Mar'23 Rs 2.87 crore).

Operating Profit slipped by 76.38 per cent to Rs 9.79 crore as against Rs 41.45 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 77.81 per cent in March quarter.

Interest grew by 48.89 per cent y-o-y to Rs 0.67 crore, while Taxation decreased by 67.60 per cent at Rs 3.24 crore (Mar'23 Rs 10.00 crore).