The company reported standalone net profit of Rs 0.78 crore for the quarter ended September 30, 2023 as compared to Rs 2.53 crore in the same period last year, registering a year-on-year decline of 69.17 per cent.

Net revenue of the company declined substantially by 24.17 per cent at Rs 57.83 crore in July-September quarter of this fiscal as against Rs 76.26 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 22.24 per cent to Rs 55.98 crore from Rs 71.99 crore in year ago period.

Other Income grew by 189.36 per cent at Rs 0.84 crore versus (Sep'22 Rs -0.94 crore).

Operating Profit slipped by 56.67 per cent to Rs 1.85 crore as against Rs 4.27 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 43.04 per cent in September quarter.

Interest grew by 115.25 per cent y-o-y to Rs 1.27 crore, while Taxation increased by 204.76 per cent at Rs 0.22 crore (Sep'22 Rs -0.21 crore).