The company reported standalone net profit of Rs 20.80 crore for the quarter ended June 30, 2023 as compared to Rs 23.07 crore in the same period last year, registering a year-on-year decline of 9.84 per cent.

Net revenue of the company rose marginally by 2.88 per cent at Rs 203.43 crore in April-June quarter of this fiscal as against Rs 197.74 crore in the corresponding period last year.

During April-June quarter, operating expenses increased by 6.06 per cent to Rs 174.36 crore from Rs 164.40 crore in year ago period.

Other Income grew by 184.00 per cent at Rs 2.13 crore versus (Jun'22 Rs 0.75 crore).

Operating Profit slipped by 12.81 per cent to Rs 29.07 crore as against Rs 33.34 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 15.24 per cent in June quarter.

Interest declined by 8.40 per cent y-o-y to Rs 1.20 crore, while Taxation decreased by 8.92 per cent at Rs 7.15 crore (Jun'22 Rs 7.85 crore).