The company reported standalone net profit of Rs 2.37 crore for the quarter ended March 31, 2023 as compared to Rs 7.36 crore in the same period last year, registering a year-on-year decline of 67.80 per cent.
Net revenue of the company declined substantially by 75.00 per cent at Rs 2.50 crore in January-March quarter of this fiscal as against Rs 10.00 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 45.91 per cent to Rs 2.58 crore from Rs 4.77 crore in year ago period.
Other Income dipped by 5.70 per cent at Rs 2.98 crore versus (Mar'22 Rs 3.16 crore).
Operating Profit slipped by 101.53 per cent to Rs -0.08 crore as against Rs 5.23 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 106.12 per cent in March quarter.
Taxation decreased by 45.00 per cent at Rs 0.55 crore (Mar'22 Rs 1.00 crore).