The company reported standalone net profit of Rs 0.23 crore for the quarter ended March 31, 2023 as compared to Rs 1.15 crore in the same period last year, registering a year-on-year decline of 80.00 per cent.

Net revenue of the company rose substantially by 56.84 per cent at Rs 54.80 crore in January-March quarter of this fiscal as against Rs 34.94 crore in the corresponding period last year.

During January-March quarter, operating expenses increased by 67.95 per cent to Rs 53.19 crore from Rs 31.67 crore in year ago period.

Other Income dipped by 34.43 per cent at Rs 0.40 crore versus (Mar'22 Rs 0.61 crore).

Operating Profit slipped by 50.76 per cent to Rs 1.61 crore as against Rs 3.27 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 68.70 per cent in March quarter.

Interest declined by 38.21 per cent y-o-y to Rs 1.31 crore, while Taxation decreased by 78.57 per cent at Rs 0.09 crore (Mar'22 Rs 0.42 crore).