The company reported standalone net profit of Rs 1.99 crore for the quarter ended March 31, 2023 as compared to Rs 4.99 crore in the same period last year, registering a year-on-year decline of 60.12 per cent.

Net revenue of the company declined moderately by 6.62 per cent at Rs 145.55 crore in January-March quarter of this fiscal as against Rs 155.87 crore in the corresponding period last year.

During January-March quarter, operating expenses dropped by 4.01 per cent to Rs 141.17 crore from Rs 147.06 crore in year ago period.

Other Income dipped by 92.59 per cent at Rs 0.02 crore versus (Mar'22 Rs 0.27 crore).

Operating Profit slipped by 50.34 per cent to Rs 4.37 crore as against Rs 8.80 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 46.73 per cent in March quarter.

Interest grew by 39.33 per cent y-o-y to Rs 2.09 crore