The company reported standalone net profit of Rs 1.19 crore for the quarter ended December 31, 2023 as compared to Rs 1.36 crore in the same period last year, registering a year-on-year decline of 12.50 per cent.

Net revenue of the company declined substantially by 40.79 per cent at Rs 13.44 crore in October-December quarter of this fiscal as against Rs 22.70 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 41.92 per cent to Rs 12.18 crore from Rs 20.97 crore in year ago period.

Other Income grew by 84.00 per cent at Rs 0.46 crore versus (Dec'22 Rs 0.25 crore).

Operating Profit slipped by 26.74 per cent to Rs 1.26 crore as against Rs 1.72 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 23.06 per cent in December quarter.

Interest declined by 50.00 per cent y-o-y to Rs 0.01 crore, while Taxation decreased by 17.31 per cent at Rs 0.43 crore (Dec'22 Rs 0.52 crore).