The company reported standalone net profit of Rs 2.09 crore for the quarter ended June 30, 2024 as compared to Rs 4.53 crore in the same period last year, registering a year-on-year decline of 53.86 per cent.

Net revenue of the company declined substantially by 49.15 per cent at Rs 15.59 crore in April-June quarter of this fiscal as against Rs 30.66 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 44.12 per cent to Rs 14.21 crore from Rs 25.43 crore in year ago period.

Other Income grew by 123.61 per cent at Rs 1.61 crore versus (Jun'23 Rs 0.72 crore).

Operating Profit slipped by 73.61 per cent to Rs 1.38 crore as against Rs 5.23 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 48.21 per cent in June quarter.

Interest declined by 23.08 per cent y-o-y to Rs 0.10 crore, while Taxation decreased by 62.20 per cent at Rs 0.31 crore (Jun'23 Rs 0.82 crore).