The company reported standalone net profit of Rs 4.06 crore for the quarter ended December 31, 2022 as compared to Rs 5.29 crore in the same period last year, registering a year-on-year decline of 23.25 per cent.

Net revenue of the company declined substantially by 73.03 per cent at Rs 66.31 crore in October-December quarter of this fiscal as against Rs 245.88 crore in the corresponding period last year.

During October-December quarter, operating expenses dropped by 74.13 per cent to Rs 60.88 crore from Rs 235.33 crore in year ago period.

Other Income dipped by 31.56 per cent at Rs 1.54 crore versus (Dec'21 Rs 2.25 crore).

Operating Profit slipped by 48.58 per cent to Rs 5.43 crore as against Rs 10.56 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 90.68 per cent in December quarter.

Interest declined by 75.57 per cent y-o-y to Rs 0.32 crore, while Taxation decreased by 64.31 per cent at Rs 1.92 crore (Dec'21 Rs 5.38 crore).