The company reported standalone net profit of Rs 0.71 crore for the quarter ended March 31, 2022 as compared to Rs 6.85 crore in the same period last year, registering a year-on-year decline of 89.64 per cent.
Net revenue of the company declined substantially by 53.39 per cent at Rs 31.92 crore in January-March quarter of this fiscal as against Rs 68.48 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 52.06 per cent to Rs 29.57 crore from Rs 61.68 crore in year ago period.
Other Income grew by 220.00 per cent at Rs 1.60 crore versus (Mar'21 Rs 0.50 crore).
Operating Profit slipped by 65.44 per cent to Rs 2.35 crore as against Rs 6.80 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 25.71 per cent in March quarter.
Interest declined by 3.70 per cent y-o-y to Rs 1.82 crore, while Taxation decreased by 81.95 per cent at Rs -0.24 crore (Mar'21 Rs -1.33 crore).