The company reported standalone net profit of Rs 29.18 crore for the quarter ended June 30, 2024 as compared to Rs 43.99 crore in the same period last year, registering a year-on-year decline of 33.67 per cent.

Net revenue of the company declined moderately by 11.35 per cent at Rs 578.79 crore in April-June quarter of this fiscal as against Rs 652.92 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 9.43 per cent to Rs 516.35 crore from Rs 570.12 crore in year ago period.

Other Income grew by 4.82 per cent at Rs 3.26 crore versus (Jun'23 Rs 3.11 crore).

Operating Profit slipped by 24.59 per cent to Rs 62.44 crore as against Rs 82.80 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 14.91 per cent in June quarter.

Interest declined by 4.61 per cent y-o-y to Rs 3.31 crore, while Taxation decreased by 46.12 per cent at Rs 14.01 crore (Jun'23 Rs 26.00 crore).