The company reported standalone net profit of Rs 2.08 crore for the quarter ended March 31, 2024 as compared to Rs 4.05 crore in the same period last year, registering a year-on-year decline of 48.64 per cent.

Net revenue of the company declined substantially by 35.32 per cent at Rs 61.95 crore in January-March quarter of this fiscal as against Rs 95.78 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 34.03 per cent to Rs 59.40 crore from Rs 90.04 crore in year ago period.

Other Income grew by 46.51 per cent at Rs 1.26 crore versus (Mar'23 Rs 0.86 crore).

Operating Profit slipped by 55.57 per cent to Rs 2.55 crore as against Rs 5.74 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 31.39 per cent in March quarter.

Interest declined by 37.50 per cent y-o-y to Rs 0.10 crore, while Taxation decreased by 54.44 per cent at Rs 0.77 crore (Mar'23 Rs 1.69 crore).