The company reported standalone net profit of Rs 2.84 crore for the quarter ended December 31, 2023 as compared to Rs 4.11 crore in the same period last year, registering a year-on-year decline of 30.90 per cent.

Net revenue of the company rose moderately by 16.78 per cent at Rs 44.68 crore in October-December quarter of this fiscal as against Rs 38.26 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 24.95 per cent to Rs 40.11 crore from Rs 32.10 crore in year ago period.

Other Income dipped by 75.00 per cent at Rs 0.06 crore versus (Dec'22 Rs 0.24 crore).

Operating Profit slipped by 25.65 per cent to Rs 4.58 crore as against Rs 6.16 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 36.40 per cent in December quarter.

Interest grew by 23.08 per cent y-o-y to Rs 0.16 crore, while Taxation decreased by 41.44 per cent at Rs 1.06 crore (Dec'22 Rs 1.81 crore).