The company reported standalone net profit of Rs 1.72 crore for the quarter ended March 31, 2024 as compared to Rs 3.50 crore in the same period last year, registering a year-on-year decline of 50.86 per cent.

Net revenue of the company declined substantially by 49.38 per cent at Rs 23.14 crore in January-March quarter of this fiscal as against Rs 45.71 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 49.69 per cent to Rs 21.25 crore from Rs 42.24 crore in year ago period.

Other Income grew by 12.77 per cent at Rs 1.06 crore versus (Mar'23 Rs 0.94 crore).

Operating Profit slipped by 45.82 per cent to Rs 1.88 crore as against Rs 3.47 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 7.25 per cent in March quarter.

Interest declined by 7.41 per cent y-o-y to Rs 0.75 crore, while Taxation increased by 1000.00 per cent at Rs 0.44 crore (Mar'23 Rs 0.04 crore).