The company reported standalone net profit of Rs 2.21 crore for the quarter ended March 31, 2024 as compared to Rs 2.92 crore in the same period last year, registering a year-on-year decline of 24.32 per cent.

Net revenue of the company declined moderately by 7.35 per cent at Rs 18.54 crore in January-March quarter of this fiscal as against Rs 20.01 crore in the corresponding period last year.

During January-March quarter, operating expenses increased by 6.78 per cent to Rs 15.91 crore from Rs 14.90 crore in year ago period.

Other Income grew by 94.44 per cent at Rs 0.35 crore versus (Mar'23 Rs 0.18 crore).

Operating Profit slipped by 48.53 per cent to Rs 2.63 crore as against Rs 5.11 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 44.54 per cent in March quarter.

Interest declined by 72.34 per cent y-o-y to Rs 0.13 crore, while Taxation decreased by 93.94 per cent at Rs 0.08 crore (Mar'23 Rs 1.32 crore).