The company reported standalone net profit of Rs 31.58 crore for the quarter ended March 31, 2024 as compared to Rs 32.71 crore in the same period last year, registering a year-on-year decline of 3.45 per cent.

Net revenue of the company declined moderately by 7.05 per cent at Rs 208.86 crore in January-March quarter of this fiscal as against Rs 224.71 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 2.30 per cent to Rs 176.05 crore from Rs 180.19 crore in year ago period.

Other Income grew by 111.57 per cent at Rs 11.15 crore versus (Mar'23 Rs 5.27 crore).

Operating Profit slipped by 26.29 per cent to Rs 32.81 crore as against Rs 44.51 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 20.70 per cent in March quarter.

Interest grew by 80.27 per cent y-o-y to Rs 2.65 crore, while Taxation decreased by 59.77 per cent at Rs 3.89 crore (Mar'23 Rs 9.67 crore).