The company reported standalone net profit of Rs 3.47 crore for the quarter ended March 31, 2024 as compared to Rs 15.92 crore in the same period last year, registering a year-on-year decline of 78.20 per cent.

Net revenue of the company rose marginally by 3.33 per cent at Rs 194.62 crore in January-March quarter of this fiscal as against Rs 188.35 crore in the corresponding period last year.

During January-March quarter, operating expenses increased by 4.71 per cent to Rs 180.83 crore from Rs 172.70 crore in year ago period.

Other Income grew by 461.90 per cent at Rs 1.18 crore versus (Mar'23 Rs 0.21 crore).

Operating Profit slipped by 11.94 per cent to Rs 13.79 crore as against Rs 15.66 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 14.80 per cent in March quarter.

Interest grew by 10.67 per cent y-o-y to Rs 5.91 crore, while Taxation increased by 132.56 per cent at Rs 2.51 crore (Mar'23 Rs -7.71 crore).